Pricing and legal project management are critical features of business development.
Pricing involves more than offering alternative fee arrangements (AFAs). Pricing can be structured to win work you want and lose work that is either not within your scope of expertise and/or not strategic to your growth.
Legal project management (LPM) principles are designed to deliver better value as determined by the client. LPM encompasses tightly targeted scope and service, improved quality, more predictable cost, excellent communication, and reduced risk.
This is when customized proposal templates created with modular LPM components come into play. LPM components include: Objectives, Scope, Assumptions, Contingencies, Exclusions, Critical Path, Work Plan, Timeline, Staffing, Budgets, Milestones, Reporting, Deliverables, Client Feedback, and Lessons Learned.