LPMs: 11 Key takeaways #LPMHQ Webinar “LPM After 10 Years: Where are we now?”
1. Nascent discipline with only 10 years thus far. Many law departments and law firms have still not heard of it.
2. Examples cited of write-downs completely eliminated and matter schedule greatly reduced. Evidence of correlation between implementing LPM and better outcomes, but causation still an open question.
3. Importance for law firms law schools to take on LPM
4. Importance of training younger lawyers on LPM
5. High opportunity, high growth, decent pay for this field. “If you seek an LPM, the question is which law firm or organization do you plan to steal them from?”
6. Note of caution for PMs coming into the industry to have an understanding and sensitivity to lawyers and context. Can’t be too rigid. Be flexible. Create a program that fits your culture and supports your clients.
7. Focus on internal profitability, will probably not give you the sustainable business model you seek.
8. Can’t go wrong in supporting clients with getting better outcomes
9. Before you invest, think about the problem you’re trying to solve.
10. Don’t be the victim of change. Be the change you want to be. Be brave
11. The law will evolve – it’s a matter of time
What is #LPMHQ?
#LPMHQ is a periodically scheduled twitter chat; an experiment in a positive, progressive educational space for current and future legal project managers, process improvement specialists and pricing professionals. We focus on providing a learning environment to share ideas and best practices, lessons learned and find new ideas regarding legal project management. We strive to be open minded and discuss ideas with people sharing different views.
#LPMHQ is open to both practicing lawyers and business of law professionals including legal operations professionals from law firms, inhouse legal teams, alternative legal service providers and consultants who have an interest in learning or sharing their relevant experiences. There is no membership required to participate.
Emeritus Advisory Group: Rick Kathuria, Kim Craig, Paul Easton, Micah Ascano, Lauren Mueller, Peter Dombkins, and David Rueff
Advisory Group: Larissa Kruzel, Jennifer Fowler, Mary Mahone, Audrey Giannola, Peter Secor, and Arthur Wilson
Moderators: Aki Liao, Sean Ho’okano-Briel Sean Penkert, and Michael Blickstein
Look out for our upcoming Twitter chats!
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