1. In a medium sized saucepan, add cranberries, sugar, and water. Mix well.
2. Place the pan on medium high flame, stir often, and bring it to a boil.
3. Reduce the heat, and cook for about 6-8 minutes or until thick, stirring often.
4. Remove the pan from heat, and add raspberry preserves or jam in it. Let it cool completely.
5. Transfer it to a bowl, cover with plastic wrap and chill for about 8 hours.