Legal Project Management (LPM), often abbreviated as LPM, is a smart approach aimed at efficiently managing legal projects through thoughtful planning, execution, and oversight for successful outcomes. By blending project management methods and tools into legal tasks, LPM empowers organizations to streamline processes, navigate risks, and accomplish their legal objectives with ease.
Imagine a scenario where a law firm is tackling a complex litigation case for a corporate client. With LPM in action, the firm can meticulously plan and execute each phase of the case, from discovery to trial strategy, strategically. Using LPM techniques enables the firm to allocate resources effectively, monitor progress, and address potential risks, ultimately leading to favorable results for their clients.
Recent findings indicate a growing trend of LPM adoption among law firms and legal departments. According to a 2020 survey conducted by the Legal Marketing Association, approximately 77% of law firms in the United States are incorporating LPM techniques to some extent.
To assist legal professionals in implementing LPM, there are numerous software tools available. For instance, “LeanLaw” offers tailored features like time tracking and budget management, catering specifically to the unique needs of legal project management.
For more, check ANR #93: Introduction of legal project management.
