The ever-growing use of technology is changing how the legal industry operates. Right from businesses to individuals seeking legal advice and/or representation are demanding greater value for their work – in a more transparent and efficient manner.
Essentially, most of
the clients today want legal services that are affordable and convenient. And
so, lawyers are under growing pressure to be able to deliver efficient legal
services on time and within budget. These expectations, coupled with the need
to adopt appropriate risk management practices, 24/7 access to law answering
services… to name a few causes tremendous stress on legal professionals to
manage their workload in a more disciplined manner compared to the past.
Wondering about the possible solution? It’s Project Management.
Implementing project management can help lawyers (practicing solo or as a part of law firm) mitigate some of the stresses associated with managing legal matters effectively.
This article will provide a better understanding of what project management means for the legal industry, and why it is needed?
What exactly is project management for lawyers?
Project management in its most basic sense is, applying management practices to the legal work, which helps improve the quality of services and save time by systematically organizing the daily workflow.
In a broader sense, project management provides a structured approach to plan and manage legal work (or project), monitor progress towards an end goal, create and track budgets and streamline delivery – to boost productivity and profitability.
How project management is the key to survival for lawyers?
In a highly competitive environment, where digital transformation is becoming the ‘new normal’, law professionals need to adapt to survive and remain competitive.
1. Adapting to Win
The traditional billable hour of legal service delivery lacks transparency, as clients understand that they are billed by the hour, but they don’t have any clue about the work that is actually performed for their account.
Considering that most of the clients now demand transparency in the costs they pay to their legal counsel, embracing project management can help you gain an upper hand over your counterparts – who refuse to adapt and still cling to the traditional billable hour model.
Applying project management help law professionals to justify hefty fee charges, as clients can track billable hours by capturing detailed information with real-time reporting and historical records.
2. Helps Reduce Wasted Time
Another great benefit of project management is that can help lessen wasted time, by reducing the time you may waste in searching for required documents (i.e. case history, billing records, court hearing logs, etc.).
Using project management software, legal counsels can quickly locate specific documents. Thus, such software serves as your ‘go-to’ tool to access relevant information all in one place.
Furthermore, gaining quick access to documents help law firms to apply the skills of their highly experienced team members to more important tasks.
3. Effective Communication
It’s no secret that clients expect to stay informed about the progress of the case; they demand to be communicated about the most important developments surrounding their legal matter, and divergences within the case.
Implementing project management can help you communicate more efficiently with your clients, which eventually helps in maintaining a strong client relationship. For instance, you can schedule notifications to be sent to clients (via email or message) and by being responsive to your client queries help transform your client relationship into long-lasting partnerships.
Whether you are a solo legal practitioner or a law firm, with new entrants who have embraced modern law practices and technology, it has become more important than ever to adapt to new technologies that can give you the winning edge. By placing due importance on project management can help lawyers improve their productivity, and at the same time offer high quality services to clients. This article covers three of the most basic benefits that lawyers get by implementing project management.