Tag Archives: pricing

Anatomy of a Business Case – Integrating P3 Discipline into Law Firm Business Strategy

We had high hopes for the final session on the first day of P3, with my friends Tim Corcoran (@tcorcoran), John Byrne (@johnmbyrne), Catherine MacDonagh (@CathMacDonagh) and Amy Hrehovcik (@hRovingChik) presenting – and we weren’t disappointed!

As per the attendee guide: 

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Law Firm Partner and Client Discussion: Creating the Win-Win

After lunch on the first day of the P3 Conference, we had the opportunity to listen to a client discussion – which, if you read Zen regularly, you know is a favorite of mine!  Moderator Vince Cordo (@vcordo), the Global Director of Client Value at Reed Smith led a panel that included Nick Bagiatis, the COO of Reed Smith, Lesley Garafola (@plgarafola) of Duke Energy, Gonzalo Frias of Duke Energy, and Kimberly Levinson of PNC. 

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Driving Profitability through Pricing and Client Value

The second breakout session that I attended on Thursday morning at the P3 conference was “A Case Study on Profitability through Pricing and Client Value,” presented by Redwood.

The program told us:

For years the legal profession’s main focus with respect to ‘profit’ has been on driving productivity and revenue. Well before the boom in alternative fees this perception had changed drastically. Now in a new world with heavier client demands, budgeting needs, alternative pricing, and changing structures the true drivers of profitability have come under additional scrutiny.”

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P3: Project Management, Pricing & Process Improvement – An Open Discussion

Weather seemed to factor into almost everyone’s travel into Chicago last week for the P3 conference, and unfortunately, it resulted in the cancellation of our keynote speaker for the morning. Instead, we were treated to an open and interactive discussion – as one of the speakers joked “We wouldn’t be business leaders if we didn’t know how to adapt.” 

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Two for Tuesdays: Takeaways from P3

Last week, I had the pleasure of attending the LMA’s P3 conference, which brings together “pricing, project management and practice innovation experts to discuss the use of various tactics to explore solutions to real issues face by law firms today.”

I’ll be publishing some recaps for the conference in the coming days, since there was a LOT of high-level meaty topics and conversation happening in and around the event. But today, I wanted to bring you my two takeaways from the conference. As always, there are more than just two to discuss, but we’re focusing on these today! Feel free to add any other takeaways in the comments below, or just add your comments to the discussion! 

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