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Category Archives: Law Firm Profits

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Legal Project Management: Going for Broke and Turning Up the Heat

Posted in General Counsel, Law firm practices, Law Firm Profits, Legal Project Management, Legal Spend, Outside Counsel

Heretofore, the burgeoning worldwide Legal Project Management (LPM) trend has shown what you see when the buyer turns up the heat.  It’s safe to say that if more and more clients were not demanding legal services that are on time, on budget, efficiently managed and predictably rendered, we’d still be back in the “good old… Continue Reading

“Grubby Money” – Lawyers’ Reluctance to Talk About Fees

Posted in Law firm practices, Law Firm Profits, Legal Project Management, Legal Spend, Outside Counsel

It’s no secret – and no surprise – that in today’s competitive and cost-constrained legal landscape the Almighty Dollar has taken center stage: clients are increasingly fixated on tightened budgets and efficient service delivery. It’s also clear that discussing the dollars is something a lot of lawyers prefer to avoid. We recently led a Legal… Continue Reading

THE LOW DELTA FIRM: Demise of the Low Ball?

Posted in General Counsel, Law firm practices, Law Firm Profits, Legal Project Management, Legal Spend, Outside Counsel

If you are racing to stay competitive in today’s rapidly-changing legal marketplace, you probably have learned some new words and acronyms. Convergence programs. Alternative fee arrangements – or AFAs. RFPs, those increasingly draconian client requests for proposals. LPM, that is, legal project management. LPOs, those legal process outsourcing enterprises. The Key Selection Criterion All of… Continue Reading

Legal Project Management Momentum: The Dechert Experience

Posted in Alternative Fee Arrangements, Law firm practices, Law Firm Profits, Legal Project Management, Legal Project Management tools, Legal Spend

In 2009, Dechert established itself as a committed first-adopter in the burgeoning Legal Project Management (LPM) trend by offering LPM training to every partner in its U.S.and European offices, certainly a major undertaking. I was retained to design and facilitate LPM training that included scores of workshops for hundreds of partners over a 9-month period…. Continue Reading

Drivin’ the Legal Project Management Road

Posted in Law firm practices, Law Firm Profits, Legal Project Management, Outside Counsel

The managing partner of a large firm has just called with my most common FAQ: “So what’s the best way for us to implement Legal Project Management (LPM)?  How do we gear up and get up to speed quickly?” Appropriating his automotive metaphor, I said that while I understood the desire to accelerate quickly, the… Continue Reading

Bodycount

Posted in Law firm practices, Law Firm Profits, Legal Spend, Outside Counsel

The glowing reports of law firm profits that have occupied recent headlines may make it seem like the legal industry is returning to the “Way We Were” in the pre-2007 Golden Era, and everyone can breathe easy. Here’s a sampling of those headlines: In 2010, Fried Frank’s profits per partner surged 28% to $1.6 million.  Gibson Dunn’s… Continue Reading