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Realization ' Another View

By Spencer Barback and Ric Hayden
August 27, 2008

For many managing partners, the practice of law is easy compared with the challenges associated with “realization”: an 11-letter word that is the bane of all managing partners everywhere. And 100% realization? Well, that's the Holy Grail of law firm management. Given the choice of winning a Supreme Court case or solving the riddle of meeting their firm's realization goals, many managing partners might just tell the Chief Justices to take a hike.

It's important to understand that just keeping track of a firm's realization figures or, better yet, implementing a strong realization improvement program, are extremely useful efforts ' whether a firm reaches its realization goals or not. Paradoxically, when it comes to setting and striving for 100% realization, firms succeed even when they fail.

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