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.