Construction industry risk management clearinghouse

Abstract

Systems, methods, apparatus, computer program code and means for gathering, organizing and presenting on a real time basis information pertinent to Risks associated with subjects related to the Construction Industry. Risks associated with the Construction Industry can be managed by gathering data relevant to the Construction Industry from multiple sources and aggregating the gathered data according to one or more Risk variables. An inquiry relating to a Risk subject can be received and portions of the aggregated data can be associated with the Risk subject. The associated portions of the aggregated data can be transmitted to an entity placing the inquiry or other designated destination.

1 . A computer-implemented method for quantifying construction industry related risks comprising:
 continuously gathering, by a risk management clearinghouse computer system, risk variable related data associated with construction related entities;   storing the risk variable related data in a database including, for a plurality of data elements of the risk variable related data, indications of sources of the data elements;   aggregating, by the risk management clearinghouse computer system, the risk variable related data according to risk criteria to produce aggregate risk data;   receiving a query including information describing a potential transaction associated with one or more of the construction related entities;   calculating, by the risk management clearinghouse computer system, a quantitative risk quotient for the potential transaction by identifying the data elements of the aggregated risk data that are applicable to the potential transaction and applying a weighting to the applicable data elements, wherein the weighting is based, at least in part, on the sources of the applicable data elements; and   generating, by the risk management clearinghouse computer system, a due diligence report for the potential transaction based on the applicable data elements and including the quantitative risk quotient.   
     
     
         2 . The method of  claim 1  wherein the sources include a plurality of governmental jurisdictions that use differing terms and aggregating the risk variable related data includes performing a scrubbing routine on the risk variable related data to establish relationships between the differing terms. 
     
     
         3 . The method of  claim 1  wherein aggregating includes performing data mining on the risk variable related data to extract a correlation, a pattern, or a trend in the risk variable related data. 
     
     
         4 . The method of  claim 1  further comprising:
 recalculating the quantitative risk quotient based on the continuously gathered risk variable related data; and 
 updating the due diligence report based on the recalculating. 
 
     
     
         5 . The method of  claim 1  wherein the due diligence report includes a comparison of the quantitative risk quotient to a generally acceptable risk threshold level for the construction industry. 
     
     
         6 . The method of  claim 1  wherein the construction related entities are involved in one or more of: designing, building, manufacturing, repairing, or maintaining one or more manmade structures. 
     
     
         7 . The method of  claim 1  wherein the due diligence report further includes identification of the sources of the data elements used to calculate the quantitative risk quotient. 
     
     
         8 . The method of  claim 1  wherein the quantitative risk quotient is related to one or more of: financial risk, legal risk, regulatory risk, or reputational risk. 
     
     
         9 . The method of  claim 1  wherein the potential transaction includes one or more of: public financing, private financing, lending, rating of one of the construction related entities, rating of a security of the construction related entity, listing of the security on a securities exchange, trading of the security, a charitable contribution, a political donation, or auditing of the construction related entity. 
     
     
         10 . The method of  claim 1  wherein the risk criteria includes one or more of: legal history of personnel associated with the construction related entities, litigation involving the construction related entities, government or regulatory actions associated with the construction related entities, history of fraud or money laundering associated with the construction related entities, potential organized crime links to the construction related entities, labor relations activities associated with the construction related entities, or foreign affiliations of the construction related entities. 
     
     
         11 . A system for quantifying construction industry related risks comprising:
 a database;   a communication interface; and   a computer processor configured to:
 continuously gather, using the communication interface, risk variable related data associated with construction related entities; 
 store the risk variable related data in the database including, for a plurality of data elements of the risk variable related data, indications of sources of the data elements; 
 aggregate the risk variable related data according to risk criteria to produce aggregate risk data; 
 receive, using the communication interface, a request from a subscriber including information describing a potential transaction associated with one or more of the construction related entities; 
 calculate a quantitative risk quotient for the potential transaction by identifying the data elements of the aggregated risk data that are applicable to the potential transaction and applying a weighting to the applicable data elements, wherein the weighting is based, at least in part, on a credibility of each of the sources of the applicable data elements; and 
 generate a risk report for the potential transaction based on the applicable data elements that includes the quantitative risk quotient and identification of the sources of the data elements used to calculate the quantitative risk quotient. 
   
     
     
         12 . The system of  claim 11  wherein the computer processor is further configured to transmit the risk report to the subscriber in response to a contractual agreement that the subscriber will not use the risk report or associated information for a purpose covered by the Fair Credit Reporting Act (FCRA). 
     
     
         13 . The system of  claim 11  wherein the computer processor is further configured to:
 recalculate the quantitative risk quotient based on the continuously gathered risk variable related data; and 
 update the risk report based on the recalculated quantitative risk quotient. 
 
     
     
         14 . The system of  claim 11  wherein the risk report includes a comparison of the quantitative risk quotient to a generally accepted risk threshold level for the construction industry. 
     
     
         15 . The system of  claim 11  wherein the construction related entities participate in one or more of: designing, building, manufacturing, repairing, or maintaining one or more manmade structures. 
     
     
         16 . The system of  claim 11  wherein the risk report further includes a suggested action regarding the potential transaction. 
     
     
         17 . The system of  claim 11  wherein the quantitative risk quotient is related to one or more of: financial risk, legal risk, regulatory risk, or reputational risk. 
     
     
         18 . The system of  claim 11  wherein the potential transaction includes one or more of: public financing, private financing, lending, rating of one of the construction related entities, rating of a security of the construction related entity, listing of the security on a securities exchange, trading of the security, a charitable contribution, a political donation, or auditing of the construction related entity. 
     
     
         19 . The system of  claim 11  wherein the risk criteria includes one or more of: legal history of personnel associated with the construction related entities, litigation involving the construction related entities, government or regulatory actions associated with the construction related entities, history of fraud or money laundering associated with the construction related entities, potential organized crime links to the construction related entities, labor relations activities associated with the construction related entities, or foreign affiliations of the construction related entities. 
     
     
         20 . A non-transitory computer-readable medium comprising computer-executable instructions which, when executed by one or more computer processors, direct the one or more computer processors to:
 continuously gather risk variable related data associated with construction related entities;   store the risk variable related data in a database including, for a plurality of data elements of the risk variable related data, indications of sources of the data elements;   aggregate the risk variable related data according to risk criteria to produce aggregate risk data;   receive a query including information describing a potential transaction associated with one or more of the construction related entities;   calculate a quantitative risk value for the potential transaction by identifying the data elements of the aggregated risk data that are applicable to the potential transaction and applying a weighting to the applicable data elements, wherein the weighting is based, at least in part, on the sources of the applicable data elements; and   generate a due diligence report for the potential transaction based on the applicable data elements.