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The Six Habits of Highly Effective Risk Management Programs

By Kevin M. Quinley
November 01, 2005

Part One of a Two-Part Series

For years, a consistent front-runner on the best-seller list has been Steven Covey's, “The Seven Habits of Highly Effective People.” Failure to be “highly effective” in managing risk can imperil drug and device manufacturers. Today's litigation is formidable. Personal injury attorneys are well connected, constantly seeking “The Next Big Thing” in product liability litigation. Many firms specialize in suing drug and device companies. There are networks on Internet forums and at legal conferences built around “how to” workshops on suing specific devices, drugs or manufacturers.

Some companies have built highly effective risk management systems ' ways to reduce financial risk or cushion its blow. World-class companies have certain recurring habits, practices and qualities, the “Six Habits of Highly Effective Risk Management Systems” …

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