I'm a web project manager and this book helped me struggle through the initial years of my career. It's a good basic guide to what to do and what not to do in managing web projects, and it would be a good starting point for further research and study using other books, like Siegel's Secret of Successful Projects.
As the title point outs, this is a book about collaborative projects. It's a little thin on the formal techniques of project management, but it's unbeatable on the soft skills of web project management: building the right web team, and how to communicate with them and your clients.
I've used the knowledge I learnt in this books to manage web projects for European blue-chip clients, and it's one of the few books that I keep going back to, for web project management information.