Bring brown rice and water to a boil in a medium-sized pot, over high heat. Reduce heat to medium-low. Cover pot and allow to simmer for 45 minutes, until rice is tender and liquid is absorbed. Allow rice to cool.

Meanwhile, combine the pepper, celery, carrot, dried cranberries, onion, and olives in a large bowl.

Whisk together balsamic vinegar, olive oil, and mustard in a small bowl.

When rice is finished cooking and cooled, add to the bowl with the veggies. Pour in dressing and mix together well.

Season with salt and pepper. Taste and adjust seasonings if necessary. Refrigerate until serving. Serve cold or at room temperature.