What course of action can be taken by a party if the current negotiations fail and an agreement cannot be reached?

BATNA, a concept developed by Fisher and Ury at the Harvard Negotiation Project, represents the most advantageous alternative action a negotiating party can take if talks collapse without an agreement. Knowing your BATNA sets a reservation point - the minimum acceptable outcome - and determines whether a proposed deal is worth accepting or walking away from.

Bias refers to a systematic prejudice or preference that can unfairly influence a negotiator's judgment; it is not a defined course of action taken when negotiations fail.

ZOPA (Zone of Possible Agreement) is the overlap range between the minimum acceptable outcomes of both parties where a deal is theoretically possible; it describes deal space, not an alternative action if negotiations break down.

PON (Program on Negotiation) is an academic research consortium at Harvard University focused on negotiation theory; it is an institution, not a negotiation strategy or alternative course of action.