Joint Ventures present businesses with some of their greatest challenges but when their risks are managed well they can be vehicles to harness considerable wealth and growth opportunities.
Chris Duggleby‘s JointVentureRisk site is a ‘living’ free-of-charge virtual publication. It is regularly updated and improved. If you are interested in this subject please save this site link and visit again.
The JointVentureRisk.com site has been prepared by Chris Duggleby, a joint venture expert from the oil and chemicals industry, to help businesses manage risks associated with their joint venture investments. Chris Duggleby has spent over 35 years creating, leading, auditing and exiting joint ventures around the world. His experience includes membership on Boards of Directors and as CEO/President of numerous ventures – which were often integral parts of much bigger operations like the one below:
After many years in joint venture senior executive/board director roles Chris Duggleby was eventually asked to take up a senior leadership position in the audit department of the BP international oil group. In this role he became the group’s subject matter expert in joint venture risk, legal compliance risk and the management of change.
Following BP’s disastrous experience with an oil exploration joint venture in the Gulf of Mexico, he was asked to develop and implement new group auditing protocols for joint ventures and help BP develop it’s global joint venture management procedures. Towards the end of his tenure as the group’s Principal Auditor he led or oversaw all of BP’s audits of its joint ventures around the world. This website has been designed based on his first hand knowledge of joint ventures and the risks inherent in owning and operating them.
The structure of this site is based on the main categories of risk found in a typical joint venture (JV). Each heading in the menu leads you to a different kind of JV risk area. The risks can be considered from two different view points: as a JV Shareholder (or ownership participant) or as a JV Operator (or employee). JV’s may be either:
- Incorporated – Independant legal entities like Limited Companies – a model favoured by the chemicals industry, or
- Unincorporated – where participants share costs and divide profits – a model favoured by parts of the oil industry.
Regardless of whether you are working in or with JVs, or you are contemplating starting a new JV, this site should provide you with a useful introduction to some of the risks you should consider.
If you would like to contact the author please use the comments box. Suggestions and recommendations are very welcome. Chris Duggleby has also developed the following risk management sites:
RiskTuition.com – General Introduction to Risk Management
Bizchangers.com – Management of Change/Transformation risks
He is the author of a risk management textbook ‘Value TRAI Based Risk Management‘ published by BIZCHANGERS Media in 2010. His personal website is at ChrisDuggleby.com and he can be found on Facebook, Twitter, Linkedin and Oilpro. When not writing about risk he is also a keen musician (if you want a little musical distraction try his Transformates.com site).
To illustrate the considerable benefits a successful Joint Venture can achieve take a look at the following rather uplifting video:
The JointVentureRisk.com website and its author, Chris Duggleby, are not qualified to provide legal advice and therefore any questions in relation to the legal liability of a joint venture or its partners should be addressed to suitably qualified, competent legal advisers.
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