Measuring and Reporting for Law Firm Success

By (author) Scott, Peter; By (author) Wyatt, Richard

The need for accurate real-time information is growing, not only for improved law firm performance, decision-making, and, ultimately, profitability, but also to ensure regulatory obligations are met. With this in mind, Managing Partner's report on Measuring and Reporting for Law Firm Success could not have come at a better time. This practical guide demonstrates how to accurately identify, measure and report crucial real-time information to improve decision-making across key management areas. These include: * Risk management; * Client management; * Strategy development; * Financial management; and * People and performance management. Using practical examples, respected strategy experts Peter Scott and Richard Wyatt analyse current management challenges and offer clear guidance on measuring and reporting on key areas to achieve optimum decision-making and performance results. Topics covered will enable law firm managers to: * Implement and glean relevant real-time management data from practical questionnaires, surveys and financial tables (included); * Generate accurate financial and management reports for maximum impact; * Measure and use information necessary for support infrastructure planning - particularly technology, and KM; and * Effectively report real-time information to different audiences within the firm. Contained within the complimentary CDROM, you'll find practical questionnaires that can be adapted and implemented immediately within your firm to glean valuable management data: These include: * Client perception; * Measuring and managing partner performance; * 360-degree feedback; and * Achieving success - A self-analysis.

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  • Executive summary... V About the authors ...VII Part One: Measuring and reporting for law firm success Chapter 1: The challenges facing law firms today... 3 Purpose of this report...3 Measurement ...4 Competitive advantage ...5 Reporting ...5 Breaking the cycle of stasis or decline ...7 Chapter 2: Developing strategic plans through analysis and evaluation ... 9 External factors - Client and market perceptions and needs...9 Analysing critical client feedback...10 Client perception questionnaire...11 Factors determining choice of firm ...12 Factors which can drive satisfaction...16 Internal factors - Partner values...17 Partnership questionnaire...18 Chapter 3: Measuring and managing risks to gain competitive advantage... 25 Making the connection between managing risk and building competitiveness...25 Knowledge management...27 Knowledge assessment checklist...28 Types of risk ...28 Identifying and measuring specific law firm risks...31 Monitoring and measuring the effectiveness of risk controls...35 Claims monitoring ...37 Complaints monitoring...38 Financial measurement in relation to non-financial risks...38 Chapter 4: Client management ... 41 Introduction... 41 Values and behaviours...42 Marketing...43 Client retention.44 Service provision...46 Aftercare - Looking after your clients...47 Chapter 5: Measuring and managing the performance of your people... 49 Performance measurement and competitive advantage...49 Measuring and managing partner performance...50 Performance viewed from a client perspective ...52 Using peer group feedback to help managing partners become more effective...55 Confidential internal questionnaires...59 Linking performance to reward...60 Assessing performance...62 Chapter 6: Financial management... 63 Profit and cash..63 Using cash collection targets...64 Profit and contribution analysis...68 Case study: The potential impact of closing a department...69 Measuring profit...71 Allocating and apportioning overheads...74 The importance of measuring time...75 Cost per hour...77 Focusing on the balance sheet...81 Using comparators...82 Part Two: Appendices Appendix 1: Client perception questionnaire ... 87 Appendix 2: Questionnaire - Measuring and managing partner performance... 89 Appendix 3: A 360 degree feedback questionnaire ... 93 Appendix 4: Achieving success - A self-analysis questionnaire... 99

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書名 Measuring and Reporting for Law Firm Success
著作者等 Wyatt, Richard
Scott, Peter
出版元 Ark Group
刊行年月 2013.03.28
ページ数 99p
ISBN 9781908640963
言語 英語
出版国 イギリス