Law firms are waking up to client demands for more efficiency and value for money in managing matters. True, some of those demands are clumsy and blunt: “No first-year associates on our matters,” or “We cap each deposition on this case at XX hours.”
Nevertheless, firms can now respond in a constructive manner with a counter-proposal that demonstrates strong capacities in legal project management (LPM) and fee management. Instead of “ticking boxes” and offering itemized responses to itemized cost controls, firms could show clients they’re “on their side” by providing more management efficiency to achieve the overall client goal of value.
Looking down the road, however, many law firms face a challenge: How will we develop the next generation of legal project managers?
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