In order to update earlier studies on the cost of corrosion NACE International—The Corrosion Authority embarked over the last three years on a new study IMPACT—the International Measures of Prevention, Application, and Economics of Corrosion Technologies. This study goes beyond the economic effects of corrosion; it emphasizes how to integrate corrosion technology with organizational management systems thereby contributing to the safety of people, assets and the environment and also showing the economic effects of appropriate corrosion control and mitigation measures. Data were collected worldwide, input has been provided from major industries like oil and gas, pipelines, water and waste water and defense. By analyzing the data, corrosion decisions are optimized with respect to both cost savings and concern for safety and the environment. Best practices are shown and economic tools are provided. Also in order to maintain the study evergreen interested companies can benchmark their own practices against their industry standards.