- Litigation Metrics: An Art, Not a Science
- March 6, 2006 | Author: Joseph J. Leghorn
- Law Firm: Nixon Peabody LLP - Boston Office
Martindale-Hubbell posed the following question to provide a variety of views on this important topic:
What metrics should a company track and why to best manage its litigation?
Outside law firm billings provide metrics that assist in controlling litigation spend. Monitor how firms assign work. A consistent staff with the same people regularly working on a matter reduces cost. Be comfortable with the ratio of associate and paralegal hours to partner hours.
Track the time spent to resolve cases and amounts paid in settlement and see how net litigation costs fall to where settlement amounts are offset by legal fees saved.
Encourage cooperation among outside firms and track the number of referrals and amount of assistance they share.