Joint Venture / Consortium Management
Many projects on the architect+engineering side or the contractor side is organised as project joint ventures or project consortiums to be able to deliver the project to the client. Either because the client wants a one-stop-shop contract, be able to have sufficient technical skills to deliver the project, risk spreading or to comply to financial performance.
To be able to deliver a full project the joint venture partners/consortium partners are often very uneven in number of employees, technical performance, have very different financial performance or will only deliver their services in a limited timespan. And often the back office processes tend to be a little neglected as the partners is focused on the deliveries.
Lucanus can assist your joint venture or consortium with full joint venture management or handle individual processes. We act as the independent representative on behalf of all the partners in the joint venture/consortium, making sure that all the partners receive transparent and updated information, handle payments & cash flow and mitigating discrepancies among the partners making sure they don't turn into real disputes.
We take care of the back office process´ so the partners can focus on what they are best at: their core business. Our services includes:
- Assisting with contractual foundation, agreed documents, work split, fee split, risk split and standard operating procedures in cooporation with the partners and their individual advisors and lawyers.
- Manage cash flow from the client account to the individual partners based on their inter partes accord, making sure that payments isn't delayed and by that reduce the partners need for working capital and financial risk.
- Monthly or quarterly status reports on economy, progress, risk and deliveries based on the contracts, project schedule and business plan for the joint venture / consortium.
- Organizing and manage steering committee or board meetings, secretary for the board/steering committee as well as agendas, presentations and minutes-of-meetings.