Developing Operational Metrics: Moving Away From Counting Hours and Rates

Track: Client Value

Session Number: 2126
Date: Tue, May 15th, 2018
Time: 11:00 AM - 12:00 PM

Description:

This session will:

  • Discuss whether or how the biggest drivers of client value cited in a 2018 Bain & Co. study also apply to legal
  • Break into small groups to review how law firms today offer clients some of the 40 elements of value
  • Explore case studies that illustrate why traditional law firm metrics increasingly fall short of demonstrating the  value of legal work
  • Present strategies for developing, implementing, and monitoring operational metrics law firms can track to deliver additional value to their clients, using an operational metrics tool
Session Type: Case Study

Body of Knowledge (BOK) Domain: Business of Law
Content Level: Advanced
Learning Objective 1: Understand the shortcomings of traditional law firm metrics and why additional metrics may be required to demonstrate value to clients.
Learning Objective 2: Review the process our firms have used to collaboratively develop, implement, and monitor operational metrics with our clients.
Learning Objective 3: Gain an understanding of a number of best practices around communicating value to clients using non-traditional, operational metrics.
Session Type: Case Study

Body of Knowledge (BOK) Domain: Business of Law
Content Level: Advanced
Learning Objective 1: Understand the shortcomings of traditional law firm metrics and why additional metrics may be required to demonstrate value to clients.
Learning Objective 2: Review the process our firms have used to collaboratively develop, implement, and monitor operational metrics with our clients.
Learning Objective 3: Gain an understanding of a number of best practices around communicating value to clients using non-traditional, operational metrics.