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Study Finds Firms Should Weigh Costs Of RFPs

Law360 (February 10, 2009, 12:00 AM EST) -- With law firm profits down almost across the board, one consulting firm has recommended that firms re-evaluate whether the high costs of responding to prospective clients’ requests for proposals, which can consume up to 200 partner hours, are worth the financial gamble.

Consulting firm Altman Weil recently determined that the cost of responding to an RFP ranges from $35,000 to $65,000 and can expend roughly 100 to 200 partner hours at most firms.

“Now that business is down, especially at some of the nation’s most profitable...
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