The nature of a joint venture manager’s job is largely determined the scope of the business project. The duration of a joint venture manager position may be short-term or may extend over a longer period of time. In some industries, such as energy, joint ventures are common. Although each joint venture manager’s job description is different, an individual in this position is likely to be in charge of a project’s daily operations as well as the team performing the work.
Some joint ventures are of a global scope. It’s possible that a joint venture manager will be required to travel in order to oversee projects in multiple locations. If the partners own a portfolio of assets, for example, the joint venture manager may be responsible for overseeing those properties. For international joint venture roles, bilingual skills may be required.
The joint venture owners will almost certainly demand that the person who fills this position has several years of management experience. A joint venture manager may be required to organize supply chain management and provide forecasts on how much production of a particular product is required. A manager who will be interacting with clients and employees must have excellent communication and problem-solving skills. This person may also need to have dealt with original equipment manufacturers before.
A joint venture manager may be held responsible for the success or failure of an endeavor depending on the hands-on participation of project developers. This person may be tasked with ensuring that a project is carried out in accordance with industry and regulatory guidelines. In addition, the manager may be asked to keep any outside investors informed about the joint venture partnership’s progress. A manager may be asked to negotiate prices with suppliers if the venture involves product development.
A person interested in working as a joint venture manager should be aware of how long the partnership is expected to last. Joint ventures are business entities, but they’re formed for very specific reasons. When a business venture is launched, the expected duration of the project is frequently stated. A project manager may be able to extend his or her employment beyond the joint venture’s lifespan. Once the venture is completed, the manager may be hired one of the companies that formed the partnership.