In the first five articles of this six-part series, HBR Consulting has offered perspectives on ways that law departments can drive cost savings, increase efficiency and add value through the effective engagement and management of outside counsel. These articles have covered a variety of topics, including leveraging benchmark data, the value of data in the rate review process, an inside lawyer’s role in the business of law, matter level budgeting, and implementing and managing alternative fee arrangements (AFAs). This sixth and final article in the series will touch on an element that is a component in all of these: defining and measuring success.
Measuring success is the all-too-often overlooked piece of the initial implementation of these types of programs and initiatives. This article will focus on defining success and the role that a solid technology platform can play in measuring success and providing the data needed for leadership to make informed decisions.