Knowledge-Based Risk Management framework for Information Technology project

The purpose of this paper is to explore the field of Risk Management (RM) in relation with Knowledge Management (KM). It attempts to present a conceptual framework, called Knowledge-Based Risk Management (KBRM) that employs KM processes to improve its effectiveness and increase the probability of success in innovative Information Technology (IT) projects. It addresses initiatives towards employing KM processes in RM processes by reviewing, interpreting the related and relevant literature and sheds light on integration with RM in the IT project. The paper exposes some pertinent elements needed for building the KBRM framework for IT projects and also suggests some instrument about the integration of KM and RM process to improve the RRP (Risk Response Planning) process efficiency. This paper will contribute to the literature and practice by providing a clear method for employing KBRM as a framework to keep organizations competitive within the business environment.