Client-Matter Level Budgeting. Douglas M. Graham, Director of Administration, Fay Sharpe Jill Milkovich, Regional Systems Trainer, Squire Sanders Dave Moravcik, Finance Manager, Squire Sanders. Session Objectives. Gain appreciation of Why Important Understand elements of Project Management
Douglas M. Graham, Director of Administration, Fay SharpeJill Milkovich, Regional Systems Trainer, Squire SandersDave Moravcik, Finance Manager, Squire Sanders
“Does the firm have a formal process that enables it to forecast, track, communicate and manage a budget effectively? If yes, please describe.”
“Please describe how your firm would handle the project management of M&A transactions, especially in a highly matrixed organization.”
“Include in your description examples of any reports, work summaries, or other tracking mechanisms your firm would use to communicate with us and how the attorneys working on the matter will be coordinated within your firm.”
A project is "a temporary endeavor undertaken to create a unique product, service, or result."
Project management is "the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements."
Project Management Institute, A Guide to the Project ManagementBody of Knowledge (4th ed. 2008)
All work performed shall be pursuant to a Work Plan and Budget …
…shall reflect realistic projections of fees and expenses…
It is the expectation…that actual fees and costs will not exceed these projections.
Revisions…to reflect changed assumptions, unanticipated tasks, etc. must be discussed with and agreed to…before they are made.
…must review…at least on a quarterly basis and revise it…
“To promote effective use of time and skills, we request that Counsel….assign the appropriate minimum number of staff and appropriate level of legal talent to each matter. For instance, we expect that tasks that do not require the skills of a lawyer will be done by paralegals and tasks that do not require the skills of a partner will be done by associates or paralegals. When more complex matters may be handled more cost effectively by a partner with expertise in the subject matter, rather than by an associate, we expect the partner to be used.”