Project management and value billing

Professionals tend to ignore the key factor behind the client’s perception of whether fees are reasonable: the way the risks in a project (matter) are handled and the results achieved.

Project management is not just a claims prevention tool. It is also a quality management tool.

But how can a matter which potentially has many strands be managed effectively, on a fixed budget (at a profit)? Well, if builders can do it, why can’t lawyers and accountants.

If you know what is involved in the project and can complete it at a fixed cost, thus removing the unknown hourly cost risk from the client’s concerns, why not do so? You don’t have to time bill everything.

Ron Baker from VeraSage explains in this post a good way of approaching project management for complex matters.

If  what he says sounds attractive then read his other posts on value billing especially this one about Australian accountant Matthew Tol.

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