shopify stats

Legal Project Management Overview: Part 1 of 3

9
Feb

Starting more than five years ago, the legal industry began experiencing a trend where their clients were requested even higher quality of services and intellectual capital while their budgets for legal expenditures were drastically shrinking.  This trend continues today and shows no signs of diminishing.  Clients are asking their legal teams to control costs, finish matters on time, and reduce the risks of delays, changes or overruns.  Clients are comparing potential law firms and require greater visibility into their practices.  Clients want better management of project budgets, increased visibility into project progress and costs, and quicker insight into potential risks.  In other words, clients are demanding “Do More With Less.”  When firms cannot control their processes and risks, long term clients no longer remain loyal and switch to firms that can provide a more disciplined and managed approach to providing legal services.

Blog Article Post Image 1

As a result, many organizations have begun implementing project management principles to govern how they provide services to their clients.  These principles, known as Legal Project Management or LPM, help by providing discipline and accountability throughout each stage of providing legal advice and intellectual capital to their clients. Proven project management processes and controls have been in practice for numerous years in many industries from Construction to Information Technology to Retail and are incorporated in best practice LPM.  Law firms are adopting these project management methods and controls to improve their efficiency and to change the way they deliver services to their clients.  Firms are also implementing LPM to better manage their budgets, resourcing, and profitability. Law firms are utilizing these refined project management practices and delivery methods as a competitive advantage.

We’ll continue this conversation about Legal Project Management in two additional blog posts:Legal Project Management: Legal Project Management Solution using SharePoint and Office 365: Part 2 of 3 and Legal Project Management Principles and Best Practices: Part 3 of 3.

– i3solutions