Litigation Strategy and Case Evaluation
Strategy and Planning
A litigation budget forecasts fees and expenses across the matter's phases: pleadings, written discovery, depositions, experts, dispositive motions, and trial. It typically breaks each phase into tasks with hours and rates.
Most insurers and corporate clients require budgets at the outset and updates when scope changes materially.
Alternative Names:
Defense Budget, Matter Budget
Why it Matters?
Budgets are how outside counsel performance is evaluated, and variance without early notice damages the relationship more than the overrun itself. They also serve a substantive purpose: a budget that shows the cost of defending through trial against a modest exposure makes the case for early resolution in terms the client can act on. In eroding limits policies the budget directly affects how much remains to settle.
Frequently Confused with
Related terms
Frequently asked questions
What should a budget include?
How should overruns be handled?
