5. How do I protect our investment?

Introduction

Overview

Checklists

Do I need partners to do what I want to do?
Would I be a good partner?
What do I want to give? What do I want to get?
What do I need to do to manage the risks and responsibilities?
How do I protect our investment?

Finding Partners

Managing expectations

Making the commitment

Getting started

Sustainability

Final checklist

Last updated:
08/05/05
web-weaver:  neil@neilsandford.co.uk 

Yes Ö But not if Ö
  • Once funding is approved and the project has started, make sure you track its progress and regularly report back to your own senior management team. Understand and monitor return on investment in the project, for both your own organisation and your partners.
  • Protect your organisationís background IPR while giving access to information as defined by the consortium agreement. Ensure that your senior managers are fully-briefed on how you are managing this aspect of the project, and are given an opportunity to satisfy themselves that it is under control.
  • Remain flexible if partners want to make changes to plans, but donít allow the project to drift away from its original aims and objectives. Foster mutual dependency between partners, so that it becomes harder for any one consortium member to ignore the consensus view and go it alone.
  • Support the implementation of procedures to allow new partners to be identified, approached and brought into the consortium, as and when new skills, experience or knowledge is required.
  • Encourage members of the consortium to interact outside the formal agenda of meetings, creating the opportunity for social interaction and avoiding an over-reliance on formal lines of communication
  • Donít allow one member of the consortium, such as the project co-ordinator, to become dominant. This is best addressed by insisting that partner roles and responsibilities are clarified at the start.
  • Although it is important to get the right people involved, donít let the success of a project be critically dependent on the continuing contribution of particular individuals. You should have contingency plans in place in case key staff leave or fall ill.
  • In a similar way, donít let the continuing commitment of your own organisation depend on just a few project champions (including yourself!). The project, and your organisationís contribution to it, should be structured so as to be capable of surviving moves and changes within senior management.