In this Pricing Master Class, we look at pricing from both the client's as well as the provider's view. Access the slides, recordings, and reading materials for each module:
Module 1 - Procurement Strategy and Scope of Work – collaboration strategy between Procurement and Legal; better forecasting multi-year demand for legal services including complex work; balancing competence, coverage and cost objectives, and moving past relationship-based sourcing of legal services to strategic collaboration with law firms
Module 2 -RFPs, Invitations for Strategic Partnering and Evaluating Proposals – approaching the marketfor the third time in 10 years; effective Q&As for sourcing; selection criteria; reducing the number of firms yet again nationally and globally; streamlining the sourcing process
Module 3 - Non-Hourly Fee Arrangements and Negotiations to Arrive at a Fair Price – multi-year work allocation to firms; abandoning hourly-based fee arrangements; fees for performance and innovation; two-step negotiations; ensuring that legal departments and law firms invest in innovation to climb out of the hourly rut
Module 4 - Why ROIs and LPMs Matter; Managing the Transitions; and Innovation – why records of instruction and legal project management are pre-requisites for AFAs; linking fees to innovation to improve results and service and to reduce costs; how best to drive change once the negotiations are over
