3.1 When the Agency decided to base their partnership on a joint venture company, they found that they were breaking new ground in the relationship between the public sector and the private sector. Thus, without a pre-existing model upon which to base the partnership, the Agency built their own. During this process they identified four high level factors that they considered important to the success of the partnership:
■ the alignment of strategic business interests;
■ each party having a clear understanding of its role in the partnership;
■ the establishment of a co-operative and trust based relationship; and
■ each party being satisfied with the risks posed by and the share of benefits from the partnership.
3.2 In this part of the report we found that the Agency appear to have achieved a co-operative and collaborative partnership with CMG. The risks and benefits arising from the partnership are considered in part 4.