Governance
Governance is seen as a common thread that runs through all aspects of successful project delivery.
This module identifies some of the key factors around governance that those involved in setting up JV arrangements to deliver major infrastructure projects should be thinking about.
The terms set out within the JV Agreement should concentrate each party on the delivery of the project by providing a governance structure that promotes collaborative practices between all parties, whilst making clear the allocation of responsibility for managing risk.
Martin Buck
Principal, Watling Fosse (formerly Commercial Director, Crossrail)
Good governance within Joint Ventures for Infrastructure projects can be defined as a balance between the developer or client retaining appropriate control, and the delivery team having sufficient autonomy to manage the risk to meet the parties' objectives
Key Considerations
- Establish a JV governance framework
- Use IPA Project Initiation Routemap as guidance
- Take accountability for project objectives and risk
- Provide authority to make decisions
- Maintain alignment with corporate strategy and project
- Disclose information openly
The governance structure that is adopted by a JV is essential for the smooth running of the relationship and for the success of the project
Meet the team
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Frédéric Gillion
Partner
Frédéric heads the construction and arbitration team. He is qualified in English and French law and has extensive experience of the FIDIC forms of contract and their use in civil law jurisdictions.
Borja Martín Ariza
Partner
Borja has extensive local and international experience in M&A and projects focusing on energy, infrastructure, and real estate.
David Trethowan
Partner
David specialises in advising on a wide variety of energy project transactions as well as regulatory matters for a range of clients in the energy sector including power generators, developers, investors, utility companies, offtakers and public bodies.