Towards a framework for project risk knowledge management in the construction supply chain

The case for the application of knowledge management philosophies and techniques to project risk management is made and a common language for describing risks based on a hierarchical-risk breakdown structure provides the basis for developing a sharable knowledge-driven approach to risk management.

Abstract

The shortcomings of current project risk management processes, tools and techniques, are identified and the case for the application of knowledge management philosophies and techniques to project risk management is made. A common language for describing risks based on a hierarchical-risk breakdown structure has been developed and it provides the basis for developing a sharable knowledge-driven approach to risk management. This defines generic risk and remedial action descriptive terms, which can then be stored in catalogues. These have been implemented in a database management system to act as a knowledge repository. A prototype system being developed to support the risk management framework is briefly discussed.