Measure your success
For too many, the positive impact of LPM isn’t measured. Both of our panelists highlighted the importance of tracking and analysing matters for effective LPM reporting. At Proskauer, Elizabeth has moved away from the traditional approach of tracking hours. Instead she tracks LPM engagements on two different types of metrics:
Substantive data – what type of work is it? RfP? Process Improvement?
Sizing data – Is it lighter ad hoc work? Or was it a heavy lift – engagement level, or an embedded arrangement?
This data can then be sliced and diced by practice area, client or even Project Manager. They can then visualise this to identify trends, and make predictions about capacity.
James’s team track engagement and try to identify which of their tech solutions are being used cross business. This helps identify the most effective types of interventions, and how that plays out across the firm. Heat maps help visualise this, and identify underserved practice groups and clients.
Create layers of collaboration
The final advice from our panelists was a lesson in the flexibility of LPM. There is no one-size-fits-all LPM solution. Some attorneys will be happy with self service support, or automated reporting. Some will require a more managed approach with LPM oversight to keep the matter on track. Some clients have even created their own LPM teams, who want direct connection with LPM on the firm side. The key is to create layers of collaboration.
Begin by identifying the automatable interventions. For Proskauer this is budget reporting, which is managed and automated by tech tools. For Eversheds, this is the e-guide platform developed by James and his team.
As trust is built, more complex layers of collaboration can be developed. This can include light touch LPM, with simple budget oversight and management; to more complex work supporting scope development and timeline planning. Additionally, creating client reporting interventions (where the team analyses and reports on the progression of a matter once completed for clients) can lead to longer term collaborations. Elizabeth and James reflect this in the different layers of scale within the LPM team. They has everything from LPM assistants to Coordinators and Managers. In doing so they offer a career trajectory within their teams and keep talent on board