A ranking of cost cutting methods, crude but worth a mention

Legal Project Management ran a poll, which garnered 36 responses since April 27, 2009.

The online survey asked, “Which cost cutting method do you feel provides the most effective outcome?”

a) Renegotiating fees (33%): This sounds to me like rate discounts.

b) Use of new technology (27%): I suppose e-billing is the primary driver here.

c) Bringing more work in-house (27%): If a department can’t hire, this means either dropping some services done inside so that lawyers can handle work theretofore sent outside; working more hours; working more effectively; or freeing some time by having clients do more.

d) Job cuts 2%

e) Other 13%

Of these choices, I favor c) as the most realistic, long-term change that also reduces costs.

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