7 principles of Stephen covey for project mangers to tackle risks

Abstract

Risks are inherent to any organization. Risks are challenges to any organization, which dealt proactively, can prove to be an asset with respect to managing the threats and opportunities that come along with risks. Uncertainty of external and internal events are faced by all organizations. A sound business strategy that realizes a set of objectives and risk management is a great tool in the arsenal of organizations to tackle these uncertainties. Stephen covey in his book “7 Habits of Highly Effective People” talks about what are the principles a person can follow and adhere to being successful. This book has been revered by many organizational professionals and they apply the principles of the book to develop themselves and produce effective results that lead to success. In this article we take a closer look at risk management concepts and principles while elucidating the opportunities and threats that come with risks by comparing them with the principles of Stephen Covey from his book. The purpose of this article is to present a fundamental manuscript for managers or organizations to refer to when managing risks effectively and also be efficient in doing so.