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About the Engineering & Construction Risk Institute |
FUNCTIONAL ORGANIZATION
Engineering & Construction Risk Institute, Inc. is a non-profit organization chartered under the laws of Washington, D.C.
OFFICERS
OBJECTIVES
The objectives of the Engineering & Construction Risk Institute, Inc. are to work with clients/owners and the insurance and bonding industries to accomplish the following goals:
- Devise ways to apply existing risk valuation techniques/methodologies more effectively to commercial and contractual situations in the E&C industry
- Identify/modify existing or develop new methods to price risk
- Identify and enable the sharing of risk management best practices, from within the E&C industry and from other industries
- Identify/develop improved instruments to insure against risk
- Disseminate data, methodologies and best practices to member companies and the partner/supplier community as appropriate
- Issue a periodic report on risk management performance by region and market
- Identify and understand emerging risks
- Establish training and educational seminars to educate employees in the member companies with respect to E&C risk management.
- Create a shared pool of data for understanding and measuring risk, which facilitates a ranking of types of risks by cost impact, frequency and other relevant indicia (starting with, but not limited to historical project data across all regions of the world)
- Define a unified set of metrics/standards for measuring risk and other related performance indicators
- Establish improved methods for managing project risks when there is change in the project.
ENGINEERING & CONSTRUCTION RISK INSTITUTE® and ECRI® are registered in the U.S. Patent and Trademark Office and in the European Union as trademarks/service marks of Engineering & Construction Risk Institute, Inc.
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