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LIV Practice Management Course

LIV Practice Management Course

Date & TimeWednesday 13 February 2019 9am-5pm
Format Conference, Practice Management Course
Price

Member

$1,980.00

Non-Member

$2,200.00

CPD Units 21
  • Practice Management & Business Skills
Venue LIV, Level 13, 140 William Street, Melbourne View Map

The LIV Practice Management Course has been expertly designed to provide the essential business and financial knowledge and skills to help lawyers transition to principal of their own practice or move into partnership, identify practice risks, and develop strategies to mitigate them.

The course is broken down into key modules with content delivered through a blended learning approach encompassing self-paced study and interactive workshops. The activities are designed to mirror the journey of a business lifecycle. Each module contains the core topics required for successful completion of the course.

Workshops are delivered on 13, 14 and 15 February 2019 - 9am to 5pm

Please click here for more information and alternative course dates, or email your interest to pmc@liv.asn.au.

Program Overview

  • Module 1: Start-up - Wednesday 13 Feb
    • Introduction to practice management
    • Business strategy & succession planning
      This topic will cover key considerations for practitioners in relation to establishing and running a business, including firm structures and business models, requirements to achieve success and the development of a strategic business plan.
      • Understand practice structures and identify suitable business models
      • Formulate a business plan
      • Develop the ability to put your business plan into action
      • Gain an awareness of partnership agreements and relations
      • Demonstrate awareness of succession planning principles and how these will apply to your business
    • Financial management
      This topic will provide best practice guidance for the financial health of a business. It will equip attendees with the knowledge of financial management as it relates to the law practice, including accounting fundamentals, budgeting, taxation strategies, billing and debtor control, valuation, cost disclosure and estimating.
      • Understand budgeting, cash flow, profitability and how to interpret financial statements
      • Awareness of the availability of different billing methods and ethical billing practices
      • Comprehension of taxation requirements and how to meet your obligations
      • Devise a process to ensure payment of bills within the terms of an agreement
      • Understand methods to determine practice valuations
      • Awareness of suitable borrowing ratios
      • Explore approaches to budget development and gain the ability to generate a budget process
      • Analyse methods for estimating costs, understand disclosure requirements and understand best practice scope and planning for matters
    • Client service
  • Module 2: Legal fundamentals and operations - Thursday 14 Feb
    • Practice management systems
      This core subject will enable principals to develop and implement a comprehensive framework to manage policies, procedures and processes and promote continual improvement for a successful practice.
      • Identify the scope and functionality requirements of a practice management system(s)
      • Understand common features of practice management systems available to firms
      • Detail selection process considerations
      • Evaluate systems in line with practice requirements for the acquisition of an optimal practice management system
      • An understanding and basic knowledge of implementation processes
    • Trust accounting
      This core subject provides a comprehensive coverage of the regulatory requirements governing trust money. Additionally, this topic canvasses best practice tools and offers procedural guidance to ensure compliance to maintain trust money and trust records.
      • Demonstrate knowledge of the regulatory framework governing trust money
      • Apply practice and procedure to ensure compliance to maintain trust money and records
    • Professional standards & ethics
      This core subject will enable principals to understand the professional, legal and ethical obligations of the law practice.
      • Understand the relevant regulatory obligations for professional responsibility to clients, the court, other practitioners and third parties
      • Demonstrate awareness of principles of conflict of interest, explore guidelines and rules and develop a system to establish and maintain a conflict register
      • Display knowledge of a solicitor’s confidentiality requirements and how these apply in various circumstances
      • Consider common ethical dilemmas and how to approach these to avoid ethical issues occurring
      • Awareness of the purpose of the fidelity fund and the consequences for a law practice
      • Explore common areas of complaints and design strategies to lessen the likelihood of occurrence
    • Risk management
      This core subject will explore the different types of risks a legal practice may face, and how to recognise and manage them.
      • Awareness of negligence and the ability to articulate the role of the professional indemnity insurer
      • Identify and recognise risks to a legal practice
      • Develop awareness of causes of complaints and claims
      • Examine risk management strategies and develop systems and practices to reduce risk exposure
      • Formulate a risk management assessment and audit
  • Modules 3 & 4: Growth and transition - Friday 15 Feb
    • Managing technology & innovation
      This core subject will enable principals to consider and understand the adoption of technology and innovation systems to ensure the effective delivery of legal services.
      • Develop awareness of emerging technologies and innovations available to legal practices
      • Ability to scope and select appropriate technology and innovation offerings for your practice
      • Capacity to undertake a costs benefit analysis for the introduction of emerging technology and innovation systems
      • Ability to effectively communicate changes to staff and ensure adequate training is provided to enable staff to transition competently and ethically
      • Develop a change management plan for the implementation of any new project, including risk management frameworks to enable the effective use of new technologies
    • Business development & marketing
      This core subject will enable principals to develop and implement an effective marketing plan and improve the business of the law practice.
      • Develop an understanding of marketing channels and initiatives and how these can be utilised in your business
      • Evaluate marketing strategies to determine what is appropriate for your business
      • Formulate a marketing and communications plan to align with your business strategy
      • Understand the importance of business development functions, and identify strategic relationships, partnerships and referral sources relevant for your practice
      • Awareness of metrics and tools to evaluate the performance of marketing and business development functions
      • Develop a client relations value proposition articulating the expected standards and service delivery offered to clients
      • Identify what and how service to clients will be delivered
      • Develop mechanisms to obtain and evaluate feedback from clients
      • Comprehension of the regulatory requirements relating to advertising to ensure compliance in your practice
    • Leadership & people management
      This core subject will enable principals to understand the general principles of management to ensure the sustainability and success of their law practice. This subject should address the following issues concerning general principles of management:
      • Leadership qualities – understanding effective leadership
      • Positive office culture – promoting a supportive and ethical culture to achieve a positive environment
      • Stress management – identifying and reducing causes of stress
      • Staff selection and training – attracting, securing and maintaining ethical and competent staff
      • Delegation – ensuring that appropriate tasks are performed by suitable staff
      • Supervision – building trusting relationships that empower staff to achieve organisational objectives and ensuring staff act professionally and ethically at all times
      • Communication skills – developing effective written and verbal communication skills to ensure operational clarity and good client relations
      • Industrial relations and OH&S – understanding the requirements of employment legislation and best practice
    • Succession planning
      This core subject will explore the different types of risks facing legal practices and how to recognise and manage them.
        Demonstrate awareness of
      • succession planning principles and how it will apply to your business

Further Details

  • Registration details

    Enrolments will be confirmed via email. Access to the course materials will commence two weeks from the workshop dates. It is expected that participants will have read the course materials and reading guides in advance of the workshops and completed the required online learning activities.

  • Facilitators

    Click here for information on course Subject Matter Experts.