Pam Woldow of global legal consulting firm, Edge International, has surveyed, talked to & written with SO many lawyers, she has heard it all. Her best practices for successfully implementing LPM for our legal readers & clients answer all of our questions. If you have ever asked ” WHY Legal Project Management (LPM)?” here are The 4 Best Responses 9DOTS can give you based on experience and all of our reading.
WHY comes before WHAT: “What” focuses on all the steps inside LPM: budget, scope, planning. When lawyers only focus on the WHAT, Woldow says they seem to think that LPM is a burden. Implementing it becomes a frustrating addition to their day. If the lawyers see the WHY in LPM, they realize the added value, “Lawyers genuinely want to be the most valuable resource to their clients.”
- LESS UNCERTAINTY : With a budgeting and forecasting solution, reaching a hurdle doesn’t mean you will struggle to jump it. The economy, regulation, product pricing and consumer demand are no hurdles too high. With a customizable solution and a rolling forecast, budgeting is no longer a tedious task that leaves you feeling uncertain about your numbers. Budgeting software makes setting a budget quick and easy, which grants more time to focus on an accurate forecast. You are able to use your budget as a roadmap and your forecast to navigate you down that road despite any risk or challenge you may face.
- FACE CHALLENGES BETTER THAN YOUR COMPETITORS: The ability to easily mitigate risk is a major competitive advantage. Simply put, there are other companies who will face similar challenges as you and not be able to overcome them. You will know immediately by following your roadmap and analysis that you can afford those new supplies. Quickly understand the impact a 10% sales increase will have on your employees. You will understand how a challenge will affect your bottom line and cash flow without spending hours or even days crunching numbers.
- Efficiency & VALUE: “Until recently, you did not find lawyers talking much about efficiency, predictability and effective communication.” They are talking about it now because times are changing, data & technology are rising and advancing, and clients know that the benefits of LPM brings tons of value. Answer all of your “what-if” questions quickly & use them to benefit the future.
- MORE PROFIT & A GROWING FIRM: The fact is, “Today, providing predictable pricing, keeping clients constantly in the communication loop, and making sure their law firm teams are aligned with client needs & priorities, is the way to delight clients and keep them coming back for more.” There is not one person out there who doesn’t want to profit, financially or personally. With a budgeting and forecasting solution, you get both. Mitigating risk leads to a significant competitive advantage which leads to a significant jump in your company’s success. By eliminating inefficiency, quickly overcoming obstacles, and gaining more time to spend on tasks that help your business, you will find time you can take advantage of. Without all of the stressors on your firm, clients will TRUST you and keep coming back.
The Paradigm is Shifting: The “why” motivates and inspires lawyers at the ground level. LPM delivers immediate, real-time benefits and lawyers AND clients are benefitting. “Any lawyer or consultant who says you should only use LPM when someone forces you to, totally misses the boat.” Commit to legal project management. Make LPM become second nature, and with that will come never-ending value to who you are as a lawyer.
Are you wondering, ” WHY Legal Project Management ? ” here are FOUR Answers, but 9OTS has even more. Follow us on social media @ixdots or subscribe to our newsletter to ALWAYS have an answer to your WHY?