Views on costs management dominated the Legal Business Harbour Round Table discussion where we set about dispelling the few last remaining myths about funding. We debated how lawyers are using project managers and pricing executives and helping clients to have certainty.
Jamie Drinnan, head of legal at Consensus Business Group, said:
“There tends to be a big difference between the initial budget and time estimate you are given when you are pitched to and then what it turns out to be. That is where funding can have a real value for us, as a client. You get that secondary review. You get a more honest appraisal of how much this is really going to cost, because somebody else is having to fund it.”
Other popular discussion points were barriers to clients using funding, how funders and firms can best work as a team, recovery of damages and time-efficient ATE insurance.
Please see a PDF summarising the Round Table discussions here.