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Project Management Matters
A couple of years ago, Bill Payne of Dorsey & Whitney LLP invited me to come to Minneapolis on two weekends in mid-winter. Not for a retreat or winter sports, but to meet with partners in their office on Saturdays. Payne was then the head of the M&A Group and he explained: 'We do a lot of mid-market deals, many with similar dynamics, documents and time pressures. Yet, each deal seems to be run like we were starting from scratch. We reinvent the wheel. We do wonderful individual work, sometimes under crisis conditions, but we don't seem to pull together as a team.' He wanted more teamwork, more project planning, and more learning from each deal. I jumped at the chance to facilitate the partners' discussions. Any firm that values matter management to this degree must be serious.
The field of Project Management is well established, but has been making slow progress in law practice. There is a professional credential (PMP), but you're unlikely to see those letters beside J.D. In law firms, we even prefer to rename it as 'case management' or 'matter management.' As my experience with Dorsey & Whitney and other firms has proven, it is past time for lawyers to fully embrace project management. And profitable, I dare say.
A project is 'a temporary endeavor, undertaken to create a unique product, service, or result.' In law firms, the definition fits best for result-oriented matters involving teams: a deal to be closed in 60 days; a case with a trial date in nine months. Law firms manage these cases, but with project management steps and tools, they could manage much better. I will review seven steps in one system of project management to illustrate the possibilities.
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