Why are you doing this? To keep your eye on the ball!

Each of you has got a ringmaster (relationship manager) and they’ve agreed the shape of the joint team who will make the collaboration work. To keep the venture on track the Business Case will make it clear what the partners are hoping to achieve, especially the bottom-line gains and market boosts. It should explain how much cooperation from each side is expected. Each partner will bring their own goals to the table and of course although these will be different, they should be complementary.

“Normally we get on well with our partner but we really need better understanding throughout the organisation of the capabilities/value proposition and mutual business benefits. Recently we missed a major opportunity.”

Regional Director, Global IT Company

 The ‘nuts and bolts’ of the relationship is the Business Plan. This shows how the partnership will run so that it hits its targets and particularly what each side will provide. It will also give the detailed processes and procedures that the people involved will follow. All staff must be able to read it and be familiar with at least the main points. Their managers can use it to keep the operation ‘on point’.

Over time things will happen both in the marketplace and within the business and, the relationship must change to deal with them. The Relationship Managers, whose fingers are on the pulse, will regularly review and update the Business Case and Plan to keep them current. This is crucial because without this action the relationship will drift and lose its edge.

 “We use a benefits tracking system, it’s not hard to do. This keeps us focused and holds the top management on-side.”

Project Manager, UK Ministry of Defence