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Law Firm Performance Metrics: Broadening Our Discussion

By ALM Staff | Law Journal Newsletters |
June 01, 2004

Last month's medley of views on law firm ranking metrics, while diverse, by no means exhausted what A&FP Board members and other contributors have to say about this important subject. The following two mini articles continue to address ranking-related problems, but will also help us broaden the scope of our discussion.

Ranking metrics are but the highly visible tip of a veritable iceberg of law firm performance measurements, most of which are used for internal financial monitoring and decision support. While each performance metric generally has some theoretical value as an indicator, each is no doubt also subject to misuse.

Jim Davidson describes in greater detail an issue touched on briefly by some previous authors: the fundamental challenge of metric standardization. Jim's analysis provides a clear-eyed view of just how daunting this problem is.

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