We've prepared several White Papers describing our strategic approach to practice management and knowledge strategy.
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Blog Highlights
Highlights from my blog posts illustrate how to improve efficiency and quality in the delivery of legal services. Greater efficiency leads to increased revenues and profits per partner, even using an hourly billing model. Click here to review blog highlights.
See the sidebar for links to the most recent posts. Click here for my main blog page that lists the most recent posts, as well as all past posts.
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Increasing Profits and Reducing Risk Through Strategic Practice Management Improvements
Practice management can be a strategy for increasing profits per partner, reducing risk or otherwise improving the firm, such as by making clients happier, winning new work or recruiting and retaining high quality lawyers.
This paper describes the profit improvements a hypothetical law firm can realize using four examples of practice management projects that focus on knowledge strategy. Improvements in profits per equity partner range from 3% to 11%. It also describes practice changes that can reduce risk or otherwise improve the firm.
Click here to continue reading.
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Principles of a Successful Knowledge Strategy Project
Once a firm decides on a knowledge strategy project to pursue, follow these steps to bring it to a successful conclusion.
This white paper discusses important principles for the people and planning stages of the project, the system design and system use.
Click here to continue reading.
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Knowledge Strategy Project Ideas
Every firm must determine the knowledge strategy projects that are right for it, in light of its own firm strategy, practice management situation and budget. The ideas presented in this white paper are intended as food for thought.
Click here to continue reading.
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Efficiently Assimilating New Developments in a Law Firm
This paper suggests ways that a law firm can efficiently assimilate new learning among its lawyers. The main goal is to improve the quality and consistency of service to clients. This makes clients happy and reduces risk to the firm. A further benefit is that junior (and lower-cost) lawyers can more quickly get up the learning curve, which reduces the cost to the client. These lower costs generally lead to reduced write-downs and write-offs, which improves realization rate and profitability. This paper was prepared for a program at the Nov. 2013 meeting of the Federal Regulation of Securities Committee of the ABA's Business Law Section.
Click here to continue reading.
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Top 10 Knowledge Strategies for Larger Law Firms
This 57-page white paper contains ten recommendations about knowledge strategy initiatives for larger law firms (100 to 1,000+ lawyers). It is principally authored by Jack Bostelman and was prepared for the Knowledge Strategy Interest Group, which he chairs, in the ABA's Law Practice Division.
Click here for a summary of the ten knowledge strategy recommendations.
Click here to learn more about the Knowledge Strategy Interest Group and to join it in order to receive a copy of the 57-page white paper.
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