During recent discussion on social media we touched the topic of delivering value to the client. I wanted to look at that through legal/tax/compliance project delivery perspective – what does it mean to deliver value to the client through legal project management ?
First, and foremost, the value creation comes in many forms (more below) but it always needs to be based on client business problem solving or business opportunity creation. Project delivery approach to solve only “legal problems” through legal services or projects delivery should be thing of the past.
Basic value creation through legal project management delivery is delivering services or projects to the client which increase his/her bottom line result (either through profit increase or cost decrease). Example of this could be successful law suit stopping unlawful competitor from violating our patents and hence increasing sales and profits.
Value creation can come to the client also through creating future business opportunities by helping to create repurchase intent in his customers. This can come for example through review and simplification of customer contract or streamlining formal activities that customer might need to do versus the client (think of rent contracts for example).
Legal project management applied properly can create client value also through client’s employee’s satisfaction, turnover decrease etc. This could come for example through project which make employees life easier in heavily regulated industries (think of automating compliance checks and audits requirements).
Last value creation through project delivery I would like to mention is Client risk calibration. Properly run risk management should help client focus not on covering every and all risks at all cost but on carefully choosing which business risk to take to what extent and how to mitigate them at price that makes sense.
I believe that there are various other means on creation of customer value and in the same time I think that business problem solving, opportunities creation, profit increase, cost control, customers (re)purchase intent creation, employee satisfaction increase and risk management are at heart of value creation.