What process involves determining reasonable costs and pricing, and managing disagreements?

The process that involves determining reasonable costs and pricing, as well as managing disagreements, aligns most closely with forming a contract. This stage includes not only the negotiation of price and costs but also the establishment of terms and conditions that govern the relationship between the contracting parties. During this phase, both parties work to reach an agreement that is acceptable to each side, which inherently involves addressing any disputes regarding costs, terms, or expectations.

In forming a contract, various elements are considered, such as the scope of work, deliverables, pricing strategies, and how conflicts will be resolved if they arise. This process is critical because it lays the foundational agreement that will guide the execution of the contract and ensure both parties have a clear understanding of their obligations and rights.

Other processes, such as planning negotiations or conducting price analysis, are essential in the overall contract management lifecycle but do not encapsulate both establishing costs and managing disagreements in the same comprehensive manner as forming a contract does. For instance, price analysis focuses primarily on evaluating the price and ensuring it is fair and reasonable, rather than the broader context of contract formation that involves mutual agreement and conflict resolution.