Pricing capability analysis exercise

The following Practice Management precedent provides comprehensive and up to date legal information covering:

  • Pricing capability analysis exercise

Pricing capability analysis exercise

This pricing capability analysis exercise will help us critically review our pricing capability and resourcing to identify areas for improvement. Scoring should be honest and reflect the current position, not what we would like it to be or think it should be.

A: Pricing governance and policy analysis

Questions

QuestionStatementScore
10=strongly agree
1=strongly disagree
Comments
1.Our firm has an effective pricing manager/director with overall recognised responsibility for all matters concerning pricing.
2.Our firm has an effective pricing committee.
3.Our firm has well developed, clearly articulated and effectively enforced policies, processes and practices on pricing.
4.Our firm’s pricing policies are enforced even-handedly across the firm including all partners (and not just non-partners).
5.Our firm has strong controls associated with write-offs by partners.
6.Our firm has strong controls associated with write-offs by non-partners.
7.Our firm has strong controls associated with fee rate discounts agreed to by partners.
8.Our firm has strong controls associated with fee rate discounts agreed to by non-partners.
9.Our firm requires that all pricing must be undertaken collaboratively, eg at least two fee earners must approve every quote/estimate.
10.Our firm has strict controls on pro bono work and what levels of discount each partner applies.
[Insert any other statements about pricing governance and policy]

Results

Potential maximum score [insert maximum score possible based on the number of

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