Cycle time for lawsuits – 48 months reduced to less than 12 months (FMC Technologies)

At FMC Technologies, according to its general counsel, Jeffrey Carr, several management initiatives slashed the length of time its law suits typically last. According to CFO Mag., Oct. 1, 2005 (Russ Banham), FMC Technologies drastically cut the number of firms it paid most of its fees and set up for them an incentive-loaded payment structure.

Those steps, and probably other changes, cut cycle time by more than 75 percent. That would be an admirable achievement, so long as settlement dollars have no skyrocketed and the number of lawsuits have not increased dramatically.