Template Version 1.9jhf
LPM and Simple RFPS
David Cunningham, CIO, Winston & Strawn Pratik Patel, Co-Founder, VP Legal Business Solutions, Elevate ServicesKen Callander, Managing Principal, Value Strategies
Fundamental elements of a matter lifecycle.MATTER LIFECYCLE
IntakeAssessSelectPlanManageReviewMatter
Fundamental elements of a matter lifecycle.PROJECT MANAGING A MATTER
Intake Assess Select Plan Manage
Review
New Matter Intake
ECA / Risk Assessment
Preferred Panels
Phases / Activities
Budget to Actuals
Qualitative Scoring
Matter Classification
Historical Matter Analytics
RFPs Assumptions
Forecast and Accruals
Quantitative Scoring
Inside / Outside Staffing
Budget / Estimate
Timeline Invoice Review
Fee Arrangement
Staffing Status and Comms
Engagement Letter
Scope / Fee Change
Where and how can a law firm assist in matter assessment?What resources are available to consider strategy, team, and costs?
RFP SPECTRUMTraditional RFP Lean RFP
• New area / don’t know the market
• Need to validate/ confirm firm capabilities
• Large portfolio or matter that requires strategic selection analysis
• Formal and structured
• Used for Preferred Provider programs
• Know who and/or have good relationships with firms you can engage quickly
• Focused on matter strategy, staffing and pricing
• Quick turnaround
• Structured but limited questions
Informal Request
• Simple request often to a single firm
• Unstructured – no specific questions or format
The following encompasses the full scope of an RFPRFP (FULL) PROCESS
Qualify•Does the matter need an RFP?• Which firms should participate?
Goals•What is the purpose of the RFP?• What are the goals of the matter (speed, outcome, quality, etc.)
Eval Criteri
a
• What information needs to be answered by the firm to assess fit?• What is most important of those responses (weighting)
Distribute
• Instructions and requirements• Timelines?
Response
•Answers to firm questions•Matter plan, assumptions and fees
Evaluate
•Review and score by lawyers•Discussions with law firms, interviews?
Approve
•Agree upon winner based on scoring and judgment (still an art)•Gain approval if not on the preferred list
Select•Distribute engagement letter• Implementation
Phase Question
Qualify Which matters should be put to an RFP? How should it be used?How many and which firms should participate?
Goals What type of goals should be set for the RFP and for the matter?What is a simple RFP and when should it be used?
Evaluation Criteria
What types of qualitative and quantitative criteria should be used?What types of pricing arrangements should be requested?What types of questions should be asked?How can we determine the cost vs. the value of the matter?
Distribute How much time should you give the firms to answer?What is the best method of managing/tracking the RFP?
Response How do you get firms to provide linear/comparable responses?How do you handle questions from firms?
Evaluate Who should review the RFP and what information should they have?Should law firm interviews be part of the process?When should price be the primary factor?
Approve What happens if the preferred firm doesn’t score well?Who should negotiate with the firms? What should be negotiated
Hypotheticals Transactions, litigation, advice and counsel and scope based
QUESTIONS FOR DISCUSSION…
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David CunninghamCIO, Winston & Strawn [email protected]
Pratik PatelCo-Founder, VP Legal Business Solutions, Elevate [email protected]
Ken CallanderManaging Principal, Value Strategies [email protected]