Legal Project Management
Make Your Firm More Efficient
Analysis of how your firm is delivering services can help you do it better.
It’s no secret that running a successful law firm has grown more challenging in recent years. Among the changes that are here to stay, more than 95.4% of law firm leaders cite intensified price competition, 93.3% cite the need for greater efficiency and 88.2% say firms will have to operate with fewer support staff, according to Altman Weil’s 2016 “Law Firms in Transition Survey.” And just 7.6% of respondents were highly confident that their firms are prepared to meet these and other challenges.
In such an environment, any competitive edge helps. That’s one reason law firms are borrowing a page from other industries, adopting formal “project management” systems.
While the term “project management” may sound like something better suited to construction or manufacturing than the art of law, the Project Management Institute outlines five basic steps that can help keep any creative effort on track:
- Monitoring and controlling
According to an American Bar Association’s Law Practice Today blog, legal project management can help small and midsize law firms more accurately estimate their costs and deliver their services more efficiently and reliably.Many firms are even hiring full-time legal project managers who specialize in making sure client cases run efficiently from start to finish. These managers may or may not be lawyers, though knowledge of how lawyers and firms operate is essential. The key is to have an experienced manager who can keep the trains running on time, and who also respects the expertise of attorneys and recognizes that no two cases are identical.
Limiting the Guesswork
While specific systems may vary from firm to firm, legal project management strives to take some of the guesswork out of estimating the cost of a given project, using preset metrics to assess the size of the project, the dates, the staff needed to complete it and other factors.
Regardless of the specific structure of your project management plan, a key component is follow-up. Reviewing both the individual case and your processes can help you determine what aspects of the project worked well, and what may need tweaking for greater efficiency.
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The article(s) you are reading were prepared for general information purposes by Manifest, LLC. These articles are for general information purposes only and are not intended to provide legal, tax, accounting or financial advice. PNC urges its customers to do independent research and to consult with financial and legal professionals before making any financial decisions. These articles may provide reference to Internet sites as a convenience to our readers. While PNC endeavors to provide resources that are reputable and safe, we cannot be held responsible for the information, products, or services obtained on such sites and will not be liable for any damages arising from your access to such sites. The content, accuracy, opinions expressed, and links provided by these resources are not investigated, verified, monitored or endorsed by PNC.