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September 19, 2018

What to Expect from Legal Project Management Coaching (Part 3 of 3)

By Jim Hassett and Tim Batdorf

What benefits should a lawyer expect from LPM coaching?

LPM coaching enables lawyers to efficiently review dozens of management tactics that have proven valuable for others, and coaching helps lawyers decide which LPM tactics will work best in their practice.

LPM was initially adopted by firms to protect profits in fixed-fee arrangements. But then firms saw its benefits in hourly rate matters, including increased client satisfaction and decreased write-offs, as well as more accurate budgeting and tracking. LPM has also allowed firms to take on more work without adding headcount or cost. A survey by American Lawyer Media Legal Intelligence found that firms that use legal project management also report more productive client relationships, improved communication, greater cost predictability, and other benefits.

A number of case studies can be found on our website that describe the results of firms that have participated in our coaching programs.  The table below lists specific examples from various coaching programs we have conducted.

LPM behavior change

Benefits

For every matter over $50K, the lawyer shared a description of project scope and assumptions with everyone on the project team

Team members became more familiar with what each budget included and excluded, which improved cost predictability and client satisfaction

Required lawyers to use a special task code to identify any work that was performed despite the fact that it was technically beyond scope

Kept lawyers more aware of the scope of the agreement and enabled relationship partner to negotiate increased fee with the client, where appropriate

A lawyer established a procedure to provide written summaries of strategic objectives to clients for their review at the beginning of every new matter; this was later adopted by his entire firm

Improved client satisfaction and led to more accurate budgets and increased realization

At the start of a large matter, one lawyer used our matter planning template to create a list of key sub-tasks and assignments, then asked team members to estimate how many hours each sub-task would take them

Team members completed most tasks within the time estimates they provided, which led to more accurate bids, increased realization, and new business

A litigator explained our risk analysis template to a key client and then used it to assess their budget in an early case assessment

The client loved the template and used it to structure their discussion of risks vs. costs. The result was increased client satisfaction and cost control.

The lawyer developed a new fixed fee product for consultations in a specialized area by working with a coach to identify all sub-tasks required and the range of possible time to complete each

Increased new business by offering a fixed price product in a specialized area before competitors did

One lawyer added a cover memo to monthly invoices with a bullet point summary of the progress of each matter on the invoice and the expected remaining costs

By explaining the rationale for each fee and what to expect, the lawyer avoided surprises and increased realization

A litigator developed a checklist of questions to ask at the beginning of each case to better define scope and assign lawyers to cases

More accurate bids, better team assignments, and lower costs to clients

A lawyer arranged to have the accounting department send “tickler” emails automatically when certain financial milestones were reached, such as when 50% of the budget was spent

Improved budget tracking led to cost control and avoided surprises to clients by enabling early discussions of possible scope changes

For a multi-million-dollar flat fee for handling a large number of litigation matters, the relationship partner designed spreadsheets showing cost-to-date and cost-to-estimated completion for each case. This made it easier to quickly spot where there were significant overages in attorney time spent above the flat fee for a given month.

Early identification of possible problems improved discussions of why any cost overruns may have occurred in a particular case and ways to control overruns in the future. Ultimately, this led to the fixed fee arrangement becoming more profitable.

An IP lawyer used our matter planning template to simplify the steps required to complete patent applications for a key client. The lawyer identified 12 steps that were required for every patent application and a likely range of hours for completing each step.

Team members were able to easily compare their effort on each phase against expectations and increase efficiency. This improved client satisfaction and increased new business.

At the end of a matter, the relationship partner conducted a short “lessons learned” review with the client

The discussion led not only to ideas for increasing efficiency, but also to being assigned similar matters in the future

Senior partner who had to approve write downs identified a few key partners with high write-down rates and interviewed them about the causes and possible cures

Each lawyer developed a personal action plan to reduce write-downs, and the firm improved realization

A practice group required team leaders to hold weekly internal team status meetings for each matter over $100,000

Avoided duplication of effort and led to early identification of issues that could increase scope

In today’s increasingly competitive environment, most lawyers can expect LPM to continue to change the way they practice law long after the coaching ends. In other words, lawyers should NOT expect to be finished with LPM when this brief program is completed. Our goal is to help lawyers get started on a long-term process that will continue to evolve and strengthen their competitive position for years to come.

Some of this material has been adapted from the Fourth Edition of our Legal Project Management Quick Reference Guide.

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