Engineering & Construction Risk Institute Practices & Procedures
The Engineering & Construction Risk Institute reference Practices & Procedures standards initiative
The Engineering & Construction Risk Institute is dedicated to the development of techniques and best practices to support improved project Risk Management Processes. These are defined in Practices & Procedures developed by the Engineering & Construction Risk Institute and referenced in the Index of ECRI Deliverables, ECRI-RI-001 and the ECRI Document Library. These are made broadly available to the industry through the public area of this website. The Best Practices include methods for Risk Management (RM) in bidding selectivity, joint venture formation, and projects with complex financing and contractual conditions.
ECRI Practices & Procedures are divided into the following catagories:
Enterprise and portfolio
Contract Terms and Conditions
Risk Identification and Quantification
Risk Based Audit
The purpose of the Practices & Procedures is to provide a series of Best Practices developed for project risk management processes specific to the needs of Engineering and Construction companies. They are intended to apply throughout the whole project life cycle and apply to all companies and projects within the industry. The standard ECRI Practices & Procedures are continually updated and appended to assure compliance with the latest engineering and risk management Best Practices
ECRI Sponsors enjoy a more detailed and complete form of Best Practices and Procedures expanded in libraries in the sponsor's area of the ECRI website. ECRI sponsors are also invited to contribute and collaborate in the development of the ECRI Practices & Procedures. As a sponsor you will have access to the library of ECRI Standards, Processes and Best Practices drawn from significant players having diverse global E&C Industry expertise. This dramatically helps those parties just beginning the Risk Management Process in a formal way or honing the processes of those with varying degrees of established practices. They also help those Companies in relatively remote locations by keeping abreast of global best practices.