Applying the concept of 5 Rights and simple checklists to create, shape and validate your Deal is Right.

There is a lot to consider when shaping a deal. Review the items on the list, you don’t have to follow it all but it may give you a framework to navigate as it relates to your deals.

Here are key pillars to consider and details behind:

• Right Solution – make it the right solution to the problem statement, right scope, approach, architecture, deliverables
• Right Deal – do you have the right deal that makes sense financially to you, is it estimated correctly, is it profitable, stakeholder approved, do terms & conditions of the contract align with your expectations and risk profile
• Right Team – make it right with the right team and leadership to deliver. Are you working with the right customer, stakeholder with the approved budget, authority, need, timeline (BANT)
• Right Time – does the timeline work and make sense, do you have everything available to start, finish on time
• Right Location – are you delivering services out of the right location, do you have necessary perimeter security, checks in place if you’re working with regulated industries
• Right Communication, Team Work – yes #6 instead of 5, but it’s inherent to the overall Deal Lifecycle. Do you have the right communication plan, governance, clear ownership and roles & responsibilities.

Download checklist template – 5 Rights – Deal Worksheet