Excerpted from: Legal Project Management, Pricing, and Alternative Fee Arrangements
by Jim Hassett, Ph.D., LegalBizDev
The reason Legal Project Management (LPM) is growing so rapidly is that it helps law firms meet client needs and their own needs.
When ALM Legal Intelligence surveyed LPM users, they provided a list of 13 benefits and asked, “Which of the following benefits has your firm realized from its project management effort?” Every item on their list was realized by at least 20% of the group. Their most common benefit—“More productive relationships with clients”—was achieved by 62%.
The survey concluded that, “LPM can help bring increased effectiveness, reduce wasted time, and manage client expectations… Those that can successfully implement LPM will find over time that they gain a competitive advantage.”