Holland & Knight passionately believes that successful Legal Project Management (LPM) requires the application of a disciplined approach to work plan and process development, budgeting and monitoring, which facilitates client-focused Alternative Fee Arrangements (AFAs) that provide value.
Increased predictability of fees and costs
Improved communications
Minimizing or eliminating surprises
Deliver greater value to clients
Managed risk
More productive client relationships
We enable LPM with cutting-edge technology for budgeting, monitoring and analysis. Holland & Knight has been recognized by leading market research firm BTI Consulting Group (BTI) in 2020 as a Client Service A-Team and as a "Standout Firm" for its deep understanding of, and willingness to employ, AFAs.
WORK PLAN CREATION
Our LPM team provides assistance at the outset of each matter by creating a detailed budget and matter work plan or process map (shown below) that analyzes the scope of work at the task and timekeeper level.
EACH TASK BECOMES A BOX
Partner Provide preemption letter/ File answer with demand for jury trial L200
Consider allegations Associate
NOTE BILLING CODES
Associate Prepare protective order L200
Associate Informal/Formal Discovery
Associate Letter to opposing counsel regarding electronic discovery L300
L300
If in federal court, formal discovery to commence beginning within 4 months of removal
CAPTURE GUIDANCE FOR COMPLETING A TASK
DETERMINE "RIGHTSIZED" STAFFING The process map is the basis for other steps in the LPM process:
Budget development
Budget variance tracking
Matter management
“Get well” recommendations (rates, labor mix)
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CUSTOMIZED MATTER MANAGEMENT REPORTING
The LPM team works with the team of Holland & Knight attorneys to implement matter-specific phase codes to track time and develop customized matter management financial reporting (shown below), so that we can measure budget and work plan performance down to the task level on a near-real-time basis.
Actuals $80,960 (41.52%)
Budget $195,000 (recorded value)
(worked value)
NOTE: Task codes and their budgets will be added to the budget once work has begun for that task. TASK Share Agreement Review Contract Due Diligence General Legal Support Antitrust Matter Supervision
BUDGET $23,000 $76,000 $76,000 $20,000 $0 $195,000
WORKED VALUE $37,502 $24,317 $3,767 $11,113 $4,262 $80,960
PERCENTAGE 163% 32% 5% 56% Out of Scope
HOURS 53.0h 48.4h 5.1h 12.7h 5.1h 124.3h
"Get-Well" Recommendations regarding the hours it takes to perform certain tasks, staffing levels and other valuable metrics are facilitated by our artificial intelligence-powered Clocktimizer (shown below), which parses timecard narratives into activities to better understand matters and look for opportunities to optimize future work:
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The LPM team can also create a client extranet site through our state-of-the-art technology, HighQ, which gives the client the ability to access real-time, matter-management reporting and monitor where the matter stands in relation to the budget and in terms of task completion. Holland & Knight's use of HighQ enables our lawyers to have frequent communication with clients about how matters are being managed while also equipping our clients to make day-to-day decisions affecting their matters to ensure that those matters are being handled in accordance with their business objectives –in the most cost-effective, efficient way possible.
QUARTERLY BUSINESS REVIEW (QBR) REPORTING
For premier clients, the client and Holland & Knight will hold Quarterly Business Reviews to: Review Holland & Knight's performance against the client's outside counsel guidelines/standards regarding pricing, quality and service delivery Assess the success of introductions, lead generation and the identification of account opportunities Define demand for activities in the next quarter and review the next quarter's forecast Conduct the after-matter action review
QBR METRICS EXAMPLES QUALITY OF WORK Cycle time:
97 DAYS
CLIENT INTIMACY Internal savings:
LAW-RELATED KNOWLEDGE Ranked by client:
$1 MILLION+
SOLUTIONS ORIENTED Innovation and digitalization:
#1
KEY PERFORMANCE METRICS
$100,000+
15 EXTRANETS
COST CONSCIOUSNESS Billing efficiencies result in:
15% REDUCTION
CONTACT
VALUE Value-added services:
RESPONSIVENESS Manage matters with fees of:
$1 MILLION+
Vincent Cordo Chief Revenue and Legal Project Management Officer 813.739.0713 vincent.cordo@hklaw.com
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