Interesting presentation on how law firms can drive profitability. The focus is on an IT audience, suggesting that their projects have to fit one of the five items below. In looking through the linked presentation, I hear strains of theory of constraints. These items are geared towards increasing throughput and decreasing operating expenses and cost of investment. excited utterances: Driving Law Firm Profitability Through Business Intelligence
Trevor Hartl, a project manager for Habanero, a Vancouver consulting group, made an interesting PowerPoint presentation entitled, Driving Law Firm Profitability Through Business Intelligence, to IT managers of some of Vancouver's largest law firms.Using some of David Maister's concepts (the profits per equity partner formula, the health vs. hygiene concept), Hartl explains the only five ways a law firm can be more profitable.
(1) raise fees (throughput)
(2) lower variable costs (delivery cost for each engagement) (operating expenses)
(3) fix underperformers (investment)
(4) increase volume (throughput)
(5) lower overhead costs (operating expenses)
Italics are mine.
And a link to David Maister that wasn't in the original.