Budgeting & Costs Management for Litigators - Strategies for Success

Introduction

Costs Budgeting and Costs Management have now become familiar terms since their introduction as part of the reforms recommended by Lord Justice Jackson. Like the practice of law in any area, solicitors seldom have time to think about the critical importance to their profitability in understanding the implications of this process.

Indeed, the considerable and unavoidable consequences of failing to address costs management in any legal matter, and especially litigation, can have dramatic consequences for profitability even when, in the face of success and the final costs recovery, it looks like a good result.

This webinar will set out the mistakes practitioners routinely make by not approaching fee quotes, estimates, budgeting and costs management generally in the correct way and how to truly understand what is important and how to deal with all this on a day-to-day basis. In short, you cannot afford not view this webinar.

What You Will Learn

This webinar will cover the following:

• The framework within which costs budgeting is undertaken and understanding why the wider application of costs budgeting principles and costs management are vital as the starting point to any litigation matter
• Why the process by which we arrive at profitability is key and how this dovetails with the budgeting and costs management process
• That investing time at the outset, often far beyond what you think is needed, produces a return on investment which makes this time spent priceless
• How resourcing and project management are inextricably linked to the whole process in order to achieve success and greater profitability
• The inescapable importance of your gross profit margin
• How adopting pricing options beyond a simple hourly rate can yield far greater returns and result in a happier client
• Key metrics to use in understanding what success looks like

This pre-recorded webinar will be available to view from Wednesday 30th July 2025

Alternatively, you can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.