Partnerships are a crucial part of a company’s success. In today’s competitive environment partnerships can play a crucial role in the way the public perceive a company or organisation. Indeed, Charity and Corporate partnerships are very popular, not only in raising money for good causes, but for the caring image they portray in the mind of the corporate partner.
Partnerships are also not just restricted to corporate partners, there are other business partnerships with customers and the community. That said, partnerships are not like single projects, they involve teams form different organisations that must work together to meet an end goal.
The only problem is these teams have different internal drivers and business objectives. So to be successful, it is important that both partners develop the same objectives from the outset and commit to them if the partnership is to succeed. It must also be clear to both parties that a successful partnership must have a defined vision for existence beyond simply being a vehicle to make money.
In that endeavour, partnerships must also develop clear decision-making process if they are to be a success. As well as a culture of openness and transparency. If not one partner may end up doing what they want to do because they didn’t understand, agree with or buy-into the decisions and directions that they believed were made.
So, what are the 7 most important steps a project manager should know when managing a project partnerships? Below I have listed what I believe these 7 steps are if the project partnership is to be a success.
- Define a clear partnership vision & timetable
- Develop effective decision-making processes
- Ensure risks are shared equally as possible
- Develop nurturing relationships within the partnership
- Be flexible with changes to project scope & deadlines
- Define a clear set of objectives and commitments
- Communicate openly and transparently within the partnership
Let me know if you agree?
Quick Win Action.
Before the partnerships starts as Project Manager arrange a meeting to ensure that both partners core values are aligned, and that there is clear agreement with the decision making process. Getting this right from the start will avoid the possibilities any disputes which could impact the project later.
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