Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
Litigations are themselves 'issues that have gone haywire'. This makes for a compelling reason to bring an effective strategy for managing the controversies. Courts and law departments need such a tool to ensure that none of the parties is denied justice and that everyone receives 'what is due to them'. The parties stuck in the legal mess can be individuals, non-profit organizations and business entities. The court may order payments of damages to the victim.
Coming to the efficient management part, a balanced scorecard serves the purpose of 'measuring steps and moves' in case of handling lawsuits. One can assign values and numbers to the KPIs (Key Performance Indicators) and make sure that statistics remain within the 'manageable range'. However, this job of selecting metrics for the conduct of lawsuit requires immense detailed studies to be done so as to reveal the basics that determine the success of litigation process.
Once this task of figuring out the indicators is over, suitable intervals can be allotted to the metrics. Moving on, by coming back to these quantitative 'phrases', it is possible to take care of the proceedings that from part of the lawsuit process.
This is the actual scorecard with Litigation Performance Indicators and performance indicators. The performance indicators include: litigation, litigation cost, internal cost to litigate each lawsuit, external cost to litigate each lawsuit, cycle time, cycle time to resolve matters (avg), cycle time for internal lawsuit, cycle time for outside counsel, billed hours, internal hours billed for each lawsuit, outside counsel hours billed for each lawsuit, attorney productivity, number of cases per legal assistant, number of cases per attorney, hours spent by internal attorneys and legal assistants, hours spent by external attorneys and legal assistants, efficiency, pre-discovery resolution rate for internal lawsuits, pre-trial resolution rate for internal lawsuits, pre-discovery resolution rate for external lawsuits, pre-trial resolution rate for external lawsuits .