Reconcile Actual Results Against Expected Values
Properly tracking important details along the eDiscovery project life-cycle such as acquisition, processing, migration, review, document productions and archiving offers standard and enforceable procedures across an organization or legal department. These formalized best practices significantly improve compliance, quality assurance and business intelligence allowing legal teams to retain key knowledge and to seamlessly transfer it to new team members without duplication of prior work.
Quantitative project management takes this a step further and offers a methodology to measure performance and to show cost-effectiveness. By proactively defining processes that capture business drivers along the repeatable workflow, the opportunity is to combine tracking of business drivers within a flexible workflow providing a time and cost model of expected values. Within a continual process improvement framework, legal teams test and improve cost assumptions on an ongoing basis. Over time, better reporting leads to better workflow and optimal decision making.
Capturing and reporting cost drivers along a defined workflow improves compliance, enhances decision making and provides project transparency. The value is reconciling actual against the assumed values. To the extent actual values differ from expected values, the project stakeholders benefit from an explanation why
And the best part of it, measuring performance improves user adoption of standard procedures. Employees respond favorably to reporting important details when it is understood that the information is being used to improve decision making. Quantitative project management empowers those closest to the work to report valuable metrics when the metrics are used in a meaningful way.
Visit eZManage in our products section to learn more about how we can assist with Quantitative Project Management needs.