In a medium heavy saucepan combine cranberries and water and cook until berries burst, about 10 minutes. Add all other ingredients except pecans and cook, stirring frequently, until mixture thickens, about 25 minutes. Add nuts, stir to combine, and allow to cool. Transfer to a nonreactive bowl or jar and refrigerate, covered, for up to 2 weeks. Conserve may also be frozen in plastic food storage bags for up to 1 year. Alternatively, you can process hot mixture in sterilized jars and keep in a cool, dark place for up to 6 months.
Recipe courtesy Emeril Lagasse, 2005