Public-private partnerships are formed jointly by government entities and the private sector. Like joint ventures they have two organizational owners. Also like joint ventures they share a risk: each side thinks the other is in charge of compliance, while neither side actually is.
In this podcast he shares how to make compliance work in a public-private partnership. The key, he explains, is to work together collaboratively to turn compliance into an asset for protecting mutual interest. He shares numerous pieces of advice including:
- The importance of demonstrating that this is not a duplication of effort
- The need to gain the support of the employees by demonstrating you are listening
- Providing metrics of success, even if it just progress
- The value of a consolidated requirements spreadsheet
Kent concludes by sharing how he was also able to demonstrate how much the compliance program saved the partnership.
It’s good listening for anyone in a public-private partnership, or even a joint venture.