“….Attorneys can learn much from these industries about best practices for planning, managing and utilizing resources.
With LPM (legal project management), attorneys can offer flat fees while at the same time ensuring profitability. Read that sentence again. That sounds like a foreign concept for many lawyers, but it is true and many progressive firms already know it. No longer do you have to look BACK at a matter to see if it’s profitable, LPM means calculating the profitability of the matter BEFORE you ever start!
The Road to Higher Profits
Legal Project Management, when implemented properly, can become a powerful tool for your firm. With active planning and monitoring of your matters, there’s no reason your firm can’t realize higher profits and even get to the promised land of fixed fee billing. Your client relationships will also be greatly enhanced while you become more efficient as a business, allowing you to do what you do best, practice law…”. – Scott Clasen, Director of marketing at TimeSolv Corporation, edited and excerpted from his article, ” How flat fees ensure profits” @ Minnlawyer.com, click here to read the article in its entirety.
Insightful and Well said! PMO Advisory offers courses throughout the year designed for project professionals interested in Portfolio (PfMP), Program (PgMP), Project (PMP & CAPM) Risk (PMI-RMP) Management, and Agile (PMI-ACP) certifications.