Team restructuring plan to increase profit
The challenge:
The Senior Energy Partner at this firm was challenged to reduce costs whilst increasing profit. A key part of this included restructuring the team – downward delegation, allocation of work to highest profit team members, transparency of matter activities and closer client engagement fulfilled client and partner aspirations. The client requested transparency, engagement, and a fixed price solution.
Our solution:
We delivered a Statement of Work, at a fixed price of £10m, across a 12-month period. We estimated that it would see a profit of circa £1m. Utilising matter analysis, planning and commercial analysis:
- We detailed the multi-stage processWe challenged the assignment of work: capability, profit vs. revenue, appropriate delegationWe reassigned & restructured the team
The outcome:
- Increased client satisfactionReduced fixed price – from £10m down to £9mEstimated profit – c£3mImproved team moraleThe Partner saved more time they could spend on BDAdditional cases offered by their client