During a teleconference hosted by ACC’s Law Department Management, Litigation and Small Law Department committees, the general counsel of FMC Technologies, Jeff Carr, explained his company’s budget timetable. Carr said that the budget-forecasting process starts in May, but in August his department must submit what is effectively treated as the final budget for the coming year. Four or more months before the start of the budget year!
Most law departments cope with similar lead times for their budgets. No wonder metrics are vital to proficient law-department management.