GOVERNANCE

Poseidon Partnering Agreement (PPA)

The entire Poseidon partnering network comes under the wings of a common Partnering Agreement which sets out how the team works together. However this is in addition to, not instead of, a standard service contract or commercial terms of contract. Rather it moves beyond transactional interactions and governs the key relational and cultural beha - viours amongst the various program stakeholders. By articulating the core Poseidon principles of equity, mutual benefit, trust and transparency within the context of the overall mission of the program, the Poseidon Partnering Agreement provides a framework that will allow the Network to collectively drive own total cost, enhance quality and improve service, while maintaining or increasing individual profitability. The Poseidon network shall work together and individually in the spirit of trust, fairness and mutual co-operation for the benefit of the program, within the scope of their agreed roles, expertise and responsibilities as stated in the Poseidon Partnering Agreement. The aim is to cultivate a ‘no-blame culture’ which assumes every party is using its best endeavours at all times to meet the network objectives. Any issues e.g. a temperature excursion, or a client complaint, are brought out into the open and resolved as a group to ensure they cannot re-occur. 

Management of the Poseidon Program

Poseidon is a democratically-governed network of independent companies. Strategic direction of the program comes from a Poseidon Steering Committee (PSC) which works within a broader Poseidon Management Group (PMG). The res - ult of a network ballot process, the PSC is tasked with providing 'big picture' directional guidance, strategic insight and project overview to ensure the timely delivery of outputs in accordance with the Poseidon program's declared and fu - ture objectives. The PSC works in conjunction with a neutral trustee, Team Poseidon Ltd, to bring the necessary supply partners together as a consolidated group, to ensure regu - latory compliance and keep the program on track. The PMG, on the other hand, is a representative body of all participating network organisations with each corpor - ate member having 'equal status' and a single vote in strategic, network-wide decisions and other matters sof common interest. Each organisation must nomin - ate a senior representative to serve on the PMG.