The objectives of this report are fourfold: (1) to summarize, in a qualitative fashion, important new concepts in performance-based seismic design and new knowledge about the seismic hazard facing the United States (in a way that can be easily communicated to building owners and managers) (2) to describe a variety of concepts for reducing seismic risk, including the means to reduce economic losses that are not related to engineering solutions (3) to provide illustrative examples and graphical tools that can be used by the design community to more effectively "sell" concepts of seismic risk management and building performance improvements and (4) to establish a means by which seismic engineering and financial risk management can be integrated to form a holistic seismic risk management plan