Developing an example performance indicator
Produced in partnership with Paul Gilbert and Lawrence Smith of LBC Wise Counsel

The following In-house Advisor practice note produced in partnership with Paul Gilbert and Lawrence Smith of LBC Wise Counsel provides comprehensive and up to date legal information covering:

  • Developing an example performance indicator

Developing an example performance indicator

In this practice note, we develop a simple schematic to help identify, establish and manage a key performance indicator. In this case, the indicator is about shortening the life cycle for contract negotiation.

BaselineAnalysis of processCommunicationProcess improvement
How many contracts?When are lawyers first engaged? How long are files typically open?What is the objective? Can we save cost, improve efficiency, reduce risk, increase profitability?Implementing the process improvement
How long do contacts take to negotiate from

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