How to Get a Job For Project Managers

Learn how to write resume and interview

Leadership for Project Managers

Learn how to lead and drive project success.

Project Management with AI

From a beginner to project management professional.

Agile Project Management and SCRUM with AI

Learn to run Scrum and Agile with AI.

Joint Venture Contract

A contract where two or more parties team up to execute a project's work and agree to share the resulting revenues or other benefits, ensuring each party receives a return on investment.

Key Points

  • Parties jointly perform the work and share profits, benefits, and often risks and liabilities.
  • Defines each partner's contributions, governance structure, and decision-making authority.
  • Specifies how costs are allocated and how profits or benefits are distributed.
  • Useful when combined capabilities are needed to win or deliver the project.

Example

A software vendor and a systems integrator form a joint venture to build a citywide ticketing platform. They pool staff and funding, deliver the system together, and split subscription and maintenance revenues based on a pre-agreed formula.

PMP Example Question

A sponsor proposes that a product company and an implementation partner collaborate to deliver a national platform and share the subscription income. Which agreement best fits this situation?

  1. Fixed-price incentive fee contract between buyer and seller
  2. Joint venture contract between the partnering organizations
  3. Time and materials contract with a not-to-exceed cap
  4. Non-disclosure agreement

Correct Answer: B — Joint venture contract

Explanation: The scenario describes partners performing the work together and sharing resulting revenues, which is characteristic of a joint venture contract.

AI for Project Managers — Build Plans Faster, Lead Better

Turn messy inputs into structured project plans in minutes. If you are a project manager tired of spending hours on documentation, this course shows you how to use AI to work faster while staying fully in control.

This is not a generic AI course. You will learn how to use AI as a practical co-pilot to build real project artifacts—charters, WBS, schedules, risk registers, and executive reports—using structured, reliable prompt frameworks.

You will also learn how to keep your project aligned across scope, schedule, cost, and risk, and how to interpret performance data like Earned Value Management to support better decisions and communication.

Everything is designed for immediate use. You get ready-to-use prompt templates and workflows you can apply right away in your projects. Watch the video to see how it works and start building your first AI-supported project plan.

Explore the Course


Launch your career!

HK School of Management provides world-class training in Project Management with AI and Agile Methodologies. Practical skills, tools, and guidance you can apply right away. Covered by Udemy's 30-day refund policy.

Learn More