Page 44 - 2019 - Leaders in Legal Business (q)
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Fourth, implementation testing and day-to-day implementation: A consulting firm
usually assists with implementation in some way, whether by pilot testing the implementation;
conducting the full, hands-on implementation as part of the internal team; training and coaching
firm members through their own implementation; or simply reflecting the progress of
implementation with the relevant members of the firm.
Fifth, establishing and managing feedback loops: The above elements rarely work
sequentially; overcoming a challenge or reaching a goal often requires the above elements to be
applied iteratively. For instance, a high-level development of broad options for a solution may
follow an initial shallow-dive diagnosis, followed by additional analysis work as options solidify
and others are discarded. Various groups of partners and other stakeholders may be involved at
different stages of the consulting project. Feedback and learning loops may be agreed upon in
advance or throughout a project as the scope changes. Note that the above five elements apply very
broadly and in principle to any consulting project, whether it’s as operational as a major IT
implementation of a new practice management software, a change to how partners develop
business, or as strategic and fundamental as a change of the partner remuneration system. The
work to be carried out and the exact structure of each element will of course vary widely given the
law firm’s objective for the project.
Process design: A law firm should expect its consulting firm to assist in designing a
process that helps achieve the client’s objectives so that the subject matter advice provided fits the
business, is capable of implementation and takes hold within the firm. This is to ensure the law
firm can earn a return from its financial and time investment in the acquired consulting services.
Project management: We stress the importance of project management in consulting
projects. A well-managed project, following accepted project management norms, almost always
achieves better outcomes and does so more easily, with less time wasted, than a project that is
“defined as we go along.” Besides the substantive and process expertise, you should ask your
consulting firm about its project management expertise, skills, and approach.
Retained Advisory
Sometimes the needs are of a different nature, and then it may make sense to retain a
consulting firm or very senior advisor for a period of time. This works best if the managing partner
or executive committee is to have an ongoing sounding board providing an external perspective
on a myriad of issues that can’t easily be distilled into a consulting project.
The reasons may vary; the three most common retained advisories we see are:
First, most firms now have at least one permanent external advisor who really understands
the business, firm management, and the partnership to provide impartial advice on a broad range
of strategic, tactical, and operational business issues. This may take the form of a consulting firm
(with access to a number of partner experts within that firm), an individual consultant, or a non-
executive director.
Second, consultants may provide ongoing implementation advice following a consulting
project and to help firm management reflect on necessary changes until a new idea, process, or
decision is implemented the way it was intended and in the best, most profitable way for the firm.
For example, it is invariably helpful to any remuneration committee or other decision-maker for
29
usually assists with implementation in some way, whether by pilot testing the implementation;
conducting the full, hands-on implementation as part of the internal team; training and coaching
firm members through their own implementation; or simply reflecting the progress of
implementation with the relevant members of the firm.
Fifth, establishing and managing feedback loops: The above elements rarely work
sequentially; overcoming a challenge or reaching a goal often requires the above elements to be
applied iteratively. For instance, a high-level development of broad options for a solution may
follow an initial shallow-dive diagnosis, followed by additional analysis work as options solidify
and others are discarded. Various groups of partners and other stakeholders may be involved at
different stages of the consulting project. Feedback and learning loops may be agreed upon in
advance or throughout a project as the scope changes. Note that the above five elements apply very
broadly and in principle to any consulting project, whether it’s as operational as a major IT
implementation of a new practice management software, a change to how partners develop
business, or as strategic and fundamental as a change of the partner remuneration system. The
work to be carried out and the exact structure of each element will of course vary widely given the
law firm’s objective for the project.
Process design: A law firm should expect its consulting firm to assist in designing a
process that helps achieve the client’s objectives so that the subject matter advice provided fits the
business, is capable of implementation and takes hold within the firm. This is to ensure the law
firm can earn a return from its financial and time investment in the acquired consulting services.
Project management: We stress the importance of project management in consulting
projects. A well-managed project, following accepted project management norms, almost always
achieves better outcomes and does so more easily, with less time wasted, than a project that is
“defined as we go along.” Besides the substantive and process expertise, you should ask your
consulting firm about its project management expertise, skills, and approach.
Retained Advisory
Sometimes the needs are of a different nature, and then it may make sense to retain a
consulting firm or very senior advisor for a period of time. This works best if the managing partner
or executive committee is to have an ongoing sounding board providing an external perspective
on a myriad of issues that can’t easily be distilled into a consulting project.
The reasons may vary; the three most common retained advisories we see are:
First, most firms now have at least one permanent external advisor who really understands
the business, firm management, and the partnership to provide impartial advice on a broad range
of strategic, tactical, and operational business issues. This may take the form of a consulting firm
(with access to a number of partner experts within that firm), an individual consultant, or a non-
executive director.
Second, consultants may provide ongoing implementation advice following a consulting
project and to help firm management reflect on necessary changes until a new idea, process, or
decision is implemented the way it was intended and in the best, most profitable way for the firm.
For example, it is invariably helpful to any remuneration committee or other decision-maker for
29
