Template Version 1.9jhf

LPM and Simple RFPS

David Cunningham, CIO, Winston & Strawn Pratik Patel, Co-Founder, VP Legal Business Solutions, Elevate ServicesKen Callander, Managing Principal, Value Strategies

Fundamental elements of a matter lifecycle.MATTER LIFECYCLE

IntakeAssessSelectPlanManageReviewMatter

Fundamental elements of a matter lifecycle.PROJECT MANAGING A MATTER

Intake Assess Select Plan Manage

Review

New Matter Intake

ECA / Risk Assessment

Preferred Panels

Phases / Activities

Budget to Actuals

Qualitative Scoring

Matter Classification

Historical Matter Analytics

RFPs Assumptions

Forecast and Accruals

Quantitative Scoring

Inside / Outside Staffing

Budget / Estimate

Timeline Invoice Review

Fee Arrangement

Staffing Status and Comms

Engagement Letter

Scope / Fee Change

Where and how can a law firm assist in matter assessment?What resources are available to consider strategy, team, and costs?

RFP SPECTRUMTraditional RFP Lean RFP

• New area / don’t know the market

• Need to validate/ confirm firm capabilities

• Large portfolio or matter that requires strategic selection analysis

• Formal and structured

• Used for Preferred Provider programs

• Know who and/or have good relationships with firms you can engage quickly

• Focused on matter strategy, staffing and pricing

• Quick turnaround

• Structured but limited questions

Informal Request

• Simple request often to a single firm

• Unstructured – no specific questions or format

The following encompasses the full scope of an RFPRFP (FULL) PROCESS

Qualify•Does the matter need an RFP?• Which firms should participate?

Goals•What is the purpose of the RFP?• What are the goals of the matter (speed, outcome, quality, etc.)

Eval Criteri

a

• What information needs to be answered by the firm to assess fit?• What is most important of those responses (weighting)

Distribute

• Instructions and requirements• Timelines?

Response

•Answers to firm questions•Matter plan, assumptions and fees

Evaluate

•Review and score by lawyers•Discussions with law firms, interviews?

Approve

•Agree upon winner based on scoring and judgment (still an art)•Gain approval if not on the preferred list

Select•Distribute engagement letter• Implementation

Phase Question

Qualify Which matters should be put to an RFP? How should it be used?How many and which firms should participate?

Goals What type of goals should be set for the RFP and for the matter?What is a simple RFP and when should it be used?

Evaluation Criteria

What types of qualitative and quantitative criteria should be used?What types of pricing arrangements should be requested?What types of questions should be asked?How can we determine the cost vs. the value of the matter?

Distribute How much time should you give the firms to answer?What is the best method of managing/tracking the RFP?

Response How do you get firms to provide linear/comparable responses?How do you handle questions from firms?

Evaluate Who should review the RFP and what information should they have?Should law firm interviews be part of the process?When should price be the primary factor?

Approve What happens if the preferred firm doesn’t score well?Who should negotiate with the firms? What should be negotiated

Hypotheticals Transactions, litigation, advice and counsel and scope based

QUESTIONS FOR DISCUSSION…

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David CunninghamCIO, Winston & Strawn dcunningham@winston.com

Pratik PatelCo-Founder, VP Legal Business Solutions, Elevate Servicespratik.patel@elevateservices.com

Ken CallanderManaging Principal, Value Strategies ken@value-strategies.com