Part
One
was
published
at
The
General
Counsel
Forum’s
12th
Annual
Conference
of
General
Counsel.
 Please
contact
Jim@Right­Tasking.com
for
a
complimentary
copy
of
Part
One.
 
 ERM:
Are
you
ready?


 
 Your
Board
of
Directors
is
more
focused
on
risk
management
than
ever.

Their
scope
has
expanded
 beyond
the
financial
risk
management
issues
traditionally
featured
on
audit
committee
agendas.

The
BP
 blowout
brought
operational
risk
management
to
the
fore.

The
SEC
issued
revised
proxy
rules
requiring
 disclosure
of
the
“extent
of
the
board's
role
in
the
risk
oversight
of
the
company.”

Business
publications
 and
consultants
tout
“enterprise
risk
management”
(ERM)
to
your
C‐suite
colleagues.

Are
you
ready
to
 explain
how
your
legal
spend
matches
up
to
your
key
enterprise
risks?

Can
you
assure
your
Board
that
 your
in‐house
team
and
outside
counsel
spending
are
appropriately
focused
on
mitigating
the
key
legal
 exposures
from
your
major
operational,
financial
and
compliance
risks?
Do
you
have
the
right
data
to
 support
your
legal
risk
mitigation
strategies
and
tactics?

 
 Think
about
your
“black
swans.”
 
 Consider
setting
aside
some
time
to
think
about
the
“low
probability,
high
impact”
risks
that
could
affect
 your
enterprise.

If
you
enjoy
theory
and
statistics,
read
The
Black
Swan:
The
Impact
of
the
Highly
 Improbable
by
Nassim
Nicholas
Taleb.

Or,
if
you
prefer
business
history,
read
Billion­Dollar
Lessons:
What
 You
Can
Learn
from
the
Most
Inexcusable
Business
Failures
of
the
Last
25
Years
by
Paul
B.
Carroll
and
 Chunka
Mui.

Together
they
will
cost
you
about
$20
at
Amazon.com
–
less
than
a
tenth
of
an
hour
of
a
 junior
associate’s
time
at
any
BigLaw
firm.

I
guarantee
you’ll
get
more
value
out
of
these
books.
 
 Demand
innovation
from
your
law
firms.
 
 I
mean
innovations
that
enhance
the
effectiveness
of
their
service
delivery.

You
need
innovations
that
 you
as
their
customer
can
see
and
feel
–
not
innovations
internal
to
the
firm
that
increase
their
PPP.

 Some
can
be
fairly
simple.

Are
their
videoconferencing
capabilities
limited
to
high‐end
configurations
in
 a
centralized
conference
facility
–
or
do
their
associates
Skype
you
from
their
laptops?

Have
they
helped
 you
build
up
the
content
in
your
law
department’s
Wiki
by
giving
you
access
(at
no
charge)
to
their
off
the
 shelf
memos
and
briefing
papers?

Some
are
more
complex.

Do
they
have
–
and
use
–
meaningful
 knowledge
management
systems
so
that
you
get
the
benefit
of
the
best
risk
management
strategies
from
 across
the
entire
firm?

Have
they
sent
any
of
their
lawyers
to
in‐depth
project
management
training
or
 do
they
rely
on
“on
the
job”
learning
for
managing
complex
litigation
and
transactions?

Do
they
use
 leading‐edge
document
assembly
systems
or
just
start
with
the
documents
from
the
last
deal?

I’m
not
 suggesting
you
discharge
a
firm
whose
quality
and
cost
structure
meet
your
needs
–
but
you
should
insist
 on
an
opportunity
to
collaboratively
brainstorm
with
them
about
ways
they
can
use
their
existing
 technology,
processes
and
people
to
increase
the
value
you
receive
from
their
services.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 ®
Consulting
Services
in
Austin,
Texas.

He
consults
with
 Jim
Boeckman
is
the
President
of
Right‐Tasking General
Counsels
and
other
law
department
leaders
to
help
them
evaluate
and
optimize
their
sourcing
 and
deployment
of
legal
services,
in
order
to
boost
the
value
of
their
legal
spend.

Further
information
is
 available
at
www.Right‐Tasking.com.


Making
Your
Law
Department
Resources
Go
Further
–
Part
Two