Legal project management
Some of the most common pitfalls of successfully managing large legal matters are the overrun of scope, cost and/or time. Legal project management supports the efficient running of matters, within scope, budget and agreed deadlines.
Legal project management (LPM) employs project management methodologies (often enhanced by technology), to improve transparency and discipline over the way legal matters are managed throughout their lifecycle. This can apply to either a single matter or an entire portfolio.
Effective LPM offers several benefits which can improve the running of matters, such as:
- Detailed project planning and accurate scoping;
- Timelines highlighting key milestones and dependencies;
- Project governance frameworks setting out the way in which a project will be managed, and clarifying key roles and responsibilities;
- Granular budgets indicating the expected cost of each phase/task;
- Ongoing monitoring of the projected budget versus actual spend; and
- As well as a crucial element – regular and accurate reporting and management of key stakeholders throughout the lifecycle of a matter.
How you can benefit from NRF’s support
The Challenge / Opportunity:
Legal operations consulting
Strategic & advisory
Receive strategic advice on the efficient running of projects and matters driven by the legal function or on the establishment and development of your in-house LPM capabilities. This may include helping you develop your LPM frameworks, processes and templates as well as the provision of training for your team and the sharing of best practice.
Project / Process design & delivery
Working with you and your team we can provide, depending on your needs, either a dedicated Legal Project Manager or multi-disciplinary ‘on-the-ground' resources, for the management of legal projects and matters to ensure they are completed efficiently, on time, on budget, and to the right quality.
Assisting your legal team in planning, structuring and reporting on complex legal matters and large portfolios, we can help you balance the implementation of change initiatives and the maintenance of business-as-usual, while optimising your return on investment.
Leveraging best practice to develop a toolkit and templates, empowering your team to manage their own legal projects more efficiently and effectively.
Technology selection and implementation
LPM Tool Selection and Implementation
Helping you to select, pilot and implement the right tools to support the management of your legal projects and/or matters.
Reduced costs and improved outcome of matters
Improved stakeholder management and reporting
Accurate scoping and efficient management of legal projects
How we are helping our clients
Designing a global bank’s legal technology strategy
A legal technology strategy to align and effectively support the wider legal team
Designing a legal function of the future
Step 1: Understanding and addressing the demand on the legal function.
Latest news and insights
Legal Operations Roundtable Series #9 Legal Work Streams
Stéphanie Hamon, Head of Legal Operations Consulting, is hosting her next roundtable on 21st October.
GCs and in-house teams often ask the question, ‘How do I evidence my legal department’s value to the business and not be seen purely as a cost center?’ Many also tell us that they ha...