Fixed Price Legal Services - the Legal Project Management Approach


Fixed Price Legal Services - the Legal Project Management Approach

With the competitive pressure to offer alternate fee arrangements, law firms are having to reconsider their pricing strategies.

  Free Seminar

Recording Date: 10-Apr-2018

Recording Type: Audio + Slides

Todd Hutchison, Chairman and Adjunct Associate Professor - IILPM

Adjunct Associate Professor Todd Hutchison is the Chairman of the International Institute of Legal Project Management, and a former global board director of the Project Management Institute. He leads the global business Peopleistic, is an international bestselling author, and listed in the Who’s Who of Business in Australia. 

Overview:

The global trend for legal project management is driven primarily by the move toward fixed price legal services, providing the systems and processes to deliver legal matters and still maintain profit.

In moving to any form of fixed price solution, the calculation of costs for the legal matter becomes critical, combined with the required systems and processes to deliver the legal service whilst managing client expectations, and balancing the risks, issues and variations, whilst striving to retain profit. 

Lawyers leading a legal matter are effectively legal project managers, however a shift to new financial models calls for a more robust approach to planning and estimating costs and then managing the delivery process. 

Legal Project Management (LPM) is the application of project principles to law practice, and incorporates technology enablement, and process improvement to assist a legal practice in moving to a more competitive model.

In this session, adjunct Associate Professor Todd Hutchison will be sharing insights into:
  • Why fixed price legal services are becoming a critical competitive positioning factor
  • How fixed priced models drive productivity and backend efficiencies
  • How to understand and overcome the resistance to change
  • How the legal project management approach facilitates the transition 
  • Insight into the toolbox of legal project management, and
  • How to approach the change whilst managing the risks

CPD: Practice Management CPD 1 unit/NZ 1 hour


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