2022 Legal Budgeting Strategy Amid Ongoing Uncertainty

A 7-Step Playbook for Agility-Based Budgeting

 

Legal departments are experiencing unprecedented budget pressures due to COVID-19 (made worse by the ongoing uncertainty posed by the Delta variant) as well as other macroeconomic and industry-specific forces. As we enter the 2022 budgeting season, General Counsels can effectively use the budget-building process to reexamine where and how they spend to navigate uncertainty and derive increased value from their legal spending.

This report offers a playbook for GCs to leverage new budgeting models to reduce fixed costs and improve legal outcomes. You’ll learn how to implement a modern model for your budget planning –Agility-Based Budgeting (ABB) – and how you can execute it through our seven steps to transition legal’s largest line items from fixed to flexible.

2022 Budgeting ABB-1

This paper covers:

1. Different Legal Departments, Universal Pain Points

2. How Legal Departments Are Addressing Pain Points: An Imperfect Response

3. The Problem with Hiring FTEs to Address Emerging Risks and Improve Cost Efficiency

Download the agility-based budgeting playbook

 

4. The Legal Budget-Building Process: A Potential Tool for Minimizing Pain

5. The Playbook: 7 Steps for Implementing ABB in 2022

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