Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Cost Savings As a Risk Management Strategy

BY Nina Cunningham
September 02, 2014

Since the active use of the term risk management, perhaps sometime in the 1980s, I have thought of the confluence of risk and management as an oxymoron. Management is the art of getting control of things and making them orderly and easier to understand; risk defines the flowing river of uncertainty. One may be able to foresee or anticipate risk, if enough pieces of information are available, but risk management can only occur when the risk is known and takes on visible properties. This is a technicality, perhaps, but since most applied risk management falls to the technical staff of law firms, the IT department, it is worth looking at an area of risk that contains some attainable management opportunities by reducing its unknown quantities.

Common to all risk is the failure to foresee. Projecting and predicting are possible, but only if risk is anticipated and the specific cells in the mental spreadsheet, so to speak, are not yet real numbers. Based on what we know from the past and the proper identification of variables, risk can be anticipated and the effects of anticipated risk can then be quantified as well.

Personnel Cuts?

Read These Next
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models Image

Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.

Hyperlinked Documents: The Latest e-Discovery Challenge Image

As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.

Identifying Your Practice's Differentiator Image

How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.

Risks and Ad Fraud Protection In Digital Advertising Image

The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.

Turning Business Development Plans Into Reality Image

This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.