Context: Global challenges such as climate change, increasing populations and diminishing natural resources in conjunction with changing business environments require a new kind of engineering graduate. In response to this the Swinburne Engineering Practice Academy (the Academy) and its associated Bachelor of Engineering Practice (Honours) has been developed employing practice-based learning approaches. Within the Academy students engage with industry projects and pro-bono, service-learning projects for community-based organisations. Industry projects are student-led under the guidance of academic facilitators and Academy project principals, who manage relationships with clients. Credentials provide just-in-time learning of the required knowledge and skills to deliver the project. To be sustainable practice-based learning approaches require close collaborations with industry and must be responsive to industries changing needs at the same time ensuring that student learning needs are met. Considered approaches to industry engagement and presenting partners with a variety of ways to stay engaged throughout the year is required to strengthen relationships and man age expectations. Purpose: This paper will present frameworks used within the Swinburne Engineering Practice Academy for the creation of mutual value with both industry and community-based partner organisations to support practice-based learning. Approach: Frameworks were developed within the Swinburne Engineering Practice Academy to establish (business development) and maintain (stewardship) relationships with industry and community partners in addition to co-creating student projects (projects framework). Results: An overview of the business development, stewardship and projects framework are shared. The results of this paper reflect on the implementation of these frameworks to find the sweet spot in balancing the needs of the industry and community clients with student learning needs in addition to the skills required of university staff to broker these partnerships. Conclusions: Balancing the learning needs of students with the needs of an industry or community-based client is integral to the success of practice-based learning approaches. Crucial to the success of student projects with a client is to engage with the partner organisation through multiple touchpoints that allow for the successful management of expectations and the creation of long-term sustainable relationships.