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Practice Groups Lead To Better Management
The evolution of law firm management has been slow and deliberate, usually built around established business management models. For most firms, the model is flat: A few senior-level administrative managers work closely with the partnership's executive management and make most of the decisions. But recently, several firms have adopted a new management model: practice group administrators.
Practice group administrators can be compared with business managers at the division level in the corporate world, who support the chief financial officer or finance manager. The business manager focuses on the details and inner workings of a line of business, while the CFO focuses on the bigger picture. Specifically, a business manager analyzes the financial results of the business line and compares the results with the planned strategy.
Similarly, a practice group administrator's role is to help the partner-in-charge maximize the performance of the practice group from a financial and operational perspective. The practice administrator, like an executive director, focuses on the intersection of revenue generation, profitability, cost containment, and strategy. Working closely with the partner in charge of the practice group, the practice administrator helps ensure that the practice operates efficiently and fulfills its potential.
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