CIPS L4M5 Exam Overview:
| Certification Vendor: | CIPS (Chartered Institute of Procurement & Supply) |
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| Exam Name: | Commercial Negotiation |
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| Exam Number: | L4M5 |
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| Passing Score: | 50% |
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| Related Certifications: | L4M4 Ethical and Responsible Sourcing
L4M3 Commercial Contracting
L4M8 Procurement and Supply Operations
L4M6 Supplier Relationships
L4M9 Purchasing Practice
L4M1 Scope and Influence of Procurement and Supply
L4M7 Whole-Life Asset Management
L4M2 Defining Business Need |
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| Exam Format: | Objective Response, Multiple Choice, Scenario-based |
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| Exam Duration: | 90 minutes |
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| Real Exam Qty: | 60 |
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| Exam Price: | £63 (UK member), £84 (non-member), varies by region |
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| Certificate Validity Period: | Valid for life upon completion of full diploma |
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| Available Languages: | English |
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| Recommended Training: | CIPS Approved Training Providers
CIPS Official Study Guide L4M5 |
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| Exam Registration: | Official CIPS Registration |
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| Sample Questions: | CIPS L4M5 Sample Questions |
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| Exam Way: | Online remote proctored or in-person at authorised test centres |
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| Pre Condition: | No formal prerequisites; recommended for those with basic procurement knowledge or work experience |
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| Official Syllabus URL: | https://www.cips.org/qualifications/diploma-in-procurement-supply/commercial-negotiation |
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CIPS L4M5 Exam Syllabus Topics:
| Topic | Details |
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| Topic 1 | - How behaviours should change during the different stages of a negotiation
- Compare the key communication skills that help achieve desired outcomes
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| Topic 2 | - Understand key approaches in the negotiation of commercial agreements with external organisations
- Sources of conflict that can arise in the work of procurement and supply
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| Topic 3 | - Team management and the influence of stakeholdebest alternative to a negotiated agreement (BATNA)rs in negotiations
- Definitions of commercial negotiation
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| Topic 4 | - Costing methods such as absorption, marginal or variable and activity-based costing
- Know how to prepare for negotiations with external organisations
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| Topic 5 | - Macroeconomics and its influence on commercial negotiations
- Contrast the economic factors that impact on commercial negotiations
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| Topic 6 | - How purchasers can improve leverage with suppliers
- The importance of power in commercial negotiations
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| Topic 7 | - Setting objectives and defining the variables for a commercial negotiation
- Use of telephone, teleconferencing or web-based meetings
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| Topic 8 | - Analyse the application of commercial negotiations in the work of procurement and supply
- Negotiation in relation to the stages of the sourcing process
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| Topic 9 | - Building relationships based on reputation, and trust
- Repairing a relationship
- The relationship spectrum
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| Topic 10 | - Identify the different types of relationships that impact on commercial negotiations
- Pragmatic and principled styles of negotiation
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| Topic 11 | - Differentiate between the types of approaches that can be pursued in commercial negotiations
- Distributive win-lose, distributive approaches to negotiation
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| Topic 12 | - Setting targets and creating a
- Collaborative win-win integrative approaches to negotiations
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| Topic 13 | - Analyse how to assess the process and outcomes of negotiations to inform future practice
- Protecting relationships after the negotiation
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Reference: https://www.cips.org/learn/qualifications/diploma-in-procurement-and-supply/commercial-negotiation-l4m5/
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