Looks like everyone does it; especially the most competitive organizations. Toyota tried their luck and resulted in sticky accelerators pedals. BP was taking shortcuts and cutting corners deeming them to be too safe and so they felt they gained an edge over their competitors. Apple must be feeling the pressure to come up with the iPhone 4 with inadequate testing and now suffers an antenna problem with their latest model. DBS subcontracted too much of their technology away to IBM.
A few years ago, the PM realized that we cannot compete unless we are ready for "Safe to Fail". Fortunately we have not had a catastrophe from that policy. I hope we learn from the lessons of the others.
We can practice Safe to Fail only when we know the risk well enough. Trouble is we often don't.