This program will help law firm legal management professionals enhance their bottom line. Lawyers often make arrangements with clients to get their business with little knowledge of the cost or profitability of the specific engagement. The use of prospective matter budgeting can create a competitive advantage to offer more value to clients. The use of forensic matter budgeting can be used to identify why specific fee arrangements are more profitable than others. The discussion will also review a matrix of implementation issues including cost analysis, labor utilization and process efficiency.

Objectives:

  • Review strategies for effective cost measurement, analysis and matter budgets.
  • Identify various alternative billing arrangements.
  • Discuss methods of implementation and how to evaluate options.
  • Identify profit patterns and possible planning scenarios.

Speaker Information:

Michael Moore, JD, is the Founder of Moore's Law, LLC, and helps both lawyers and law firms create professional success. Moore specializes in individual marketing, client development and leadership coaching and also advises law firms on strategic planning, growth initiatives and resource optimization. A frequent speaker at ALA events across the country, his current topics have included mentoring, leadership, financial management and strategic planning. Moore is also the author of The Lawyer's Toolkit for Creating Both Personal and Professional Success available from Thomson Reuters. 

Other Info:

  • 60 Minutes
  • Audience: Intermediate
  • CLM App Management Category -FS: Financial Management
Seminar Information
Date Presented:
October 22, 2018 3:00 PM Eastern
Length:
1 hour
Profit Patterns Using Matter Budgeting and Alternative Fees to Increase Profits
Individual topic purchase: Selected
Association of Legal Administrators
CLMSM Recertification Credit: 1.00
For other credit opportunities, please check the program description or email certification@alanet.org
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Products
On-Demand
ALA Member Price:$109.00
Non-Member Price:$129.00