Development and evaluation of a knowledge risk management model for project‐based organizations

Abstract

Purpose This paper seeks to develop a model for risk management of knowledge loss in a project‐based organization in Iran. Design/methodology/approach This study uses a multi‐stage research approach. In the first stage, existing practices are examined to develop a model for risk management of knowledge loss. In the second stage, the model is evaluated by testing it in a case study. The methods integrated as the foundations of the Integrated KM and RM model are: the PMBOK risk management (RM) approach, the Fraunhofer IPK knowledge management (KM) model, and the TVA knowledge risk assessment framework. Findings The analytical approach includes a six‐step integrated model that manages the risk of critical knowledge in the case study. The results show that, after a year of implementing the model, the job positions facing knowledge loss were reduced by 88 percent. Research limitations/implications The integrated KM and RM model can be used to assist the planning, establishment and evaluation of knowledge loss in projects. This helps to ensure that key issues regarding knowledge loss are covered during the planning and implementation phases of project management. Originality/value This study provides an integrated perspective of KM in project‐based organizations. It offers valuable guidelines that can help decision makers consider key issues during a risk assessment of knowledge factors in project management. Outputs of this model can prepare an extensive assessment report about the risk of knowledge loss in a project‐based organization with suggestions for preservation plans to mitigate its effects.