The Legal PM
In many industries the use of project managers is the norm, but legal project management is a fairly new concept that could become the driving force for greater efficiencies in Legal Service Delivery. As law firms start to reap the benefits of incorporating legal project managers, it's time for in-house legal teams to harness this increasingly important resource too.
In-house legal teams have a lot to balance and are always considering how they protect the business while guiding it towards profitability. These teams fall under pressure to bring on clients quickly to grow revenue streams, manage disputes and advise around business structure. They also negotiate around commercial contracts and push through new technologies to automate legal processes.
Anyone who works in an in-house legal team knows that legal projects can inevitably overrun and go over budget because the business’s expectations aren’t managed regarding realistic timeframes and resource needed. This frustrates the Board, including the Chief Finance Officer, who wants to keep a tight budget on the legal spend, which inevitably puts pressure on the in-house lawyers.
In order to mitigate the impact of these challenges, they may outsource legal support such as contract lawyers, paralegals and even legal project managers. Legal project managers can step in to make sure the right resources are allocated across
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