Looking at what we discussed here on the JA, the impact of collaboration seems more clear than the process of successfully achieving it.

As described above in the blog post, some winnings from the bigger collaborative pie include : a better, more credible image; a larger audience; and cross-sector pollination resulting in innovation.

Those who are concerned about the time needed to successfully collaborate are perhaps not spending the necessary time upfront to define their added values and how that is tied to their take home piece of the pie.  Collaborations will mean more  time upfront, but not necessarily throughout.  Since achieving anything is always a fluid work in progress, each iterative cycle of goal setting and implementation holds lessons and will require fine-tuning.

Also the work of a project manager in a collaboration is delicate but never dishonest. Although the impression you give and how you are perceived is important, projecting an image that misrepresents the capability of delivering as a partner will hurt your credibility.  My favorite resource for analyzing collaborations like this is the book Co-Opetition, by Brandenburger and Nalebuff.