Three's Company - Is Four a Crowd?

​Three's Company is a small (under 25 person) company who has been around for eight years and have an established product and user base.  Growth is good and the core team executing smoothly.  Another company has approached them and would like to engage in a joint venture to bring a new feature to market.  It's a great idea, they have a great team, so why would they need a PM?

• Vendor/Client Management -  Managing external partners takes a lot of effort and requires a different level of communication.  Bringing in someone specifically for this task will help keep everyone on the same page and provide a single point of contact for information.
• Existing Initiatives - You have things already in flight that need to keep moving forward.  A good PM can give the joint venture the focus it needs while helping your internal team figure out how it fits into the larger picture.
• Cost Savings - If the joint venture has a clear start and end, bringing someone in specifically for that project could save you money.  As the resource is beneficial to all parties, distribute the cost burden in the contract terms.

Having someone focused on your joint venture will make sure the project has the attention it needs, without overloading everyone else.  The level of communication and organization will give you confidence for a successful launch.