Overview

The CHICO process is not a product, it is a methodology whereby participants establish policies and procedures that facilitate the movement of project data along surety industry adopted open standards. Making the project data “portable” will allow any number of participants to contribute their respective part at any point in the life cycle of a project, and have that contribution both cost effective and efficient.

Implementation of effective and cost efficient methodologies will create a profit for each participant, regardless of how the term “profit” is defined. A public agency profits from having a larger, diverse and more inclusive bidding pool of qualified contractors. A surety company profits from more surety bonds being requested under enhanced underwriting conditions. Large general contractors profit from better risk management tools. Small and emerging contractors profit from being allowed to bid on projects that otherwise would have been unavailable to them.

As each participant has a different definition of profit, each also has a different definition of an objective. The goal of the CHICO Process is to create the foundation for each participant to achieve their respective objectives and their own definition of profit; a win-win scenario for all participants.