Legal matters evolve.
Legal matters rarely follow the original plan. The work changes as the matter moves, and the economics of the matter change with it. The change might be:
- More discovery
- Additional depositions
- A new expert
- A change in strategy
- A change in staffing
- Additional work the original plan did not anticipate
The work may be entirely appropriate. But each change can affect cost, margin, timeline, staffing, and what the client expects.
02 · The Firm DecidesEvery meaningful change creates a decision.
Someone has to determine how the matter should proceed:
- Do we proceed?
- Who needs to be involved?
- How does this affect the budget?
- What does it mean for staffing?
- What does it mean for profitability?
- Does the client need to be involved?
The same decisions, at a different moment.
Each of those questions has more good answers while the work is still ahead. The story above follows one matter change both ways: with Matter Governance while the matter is moving, and without it after the work is done.
What late recognition costs the firm is the Reconstruction Tax™.
Understand the Reconstruction Tax™