The process knowledge assets make a substantial contribution to the risk management (RM) for contractors in the construction phase. To effectively reuse these assets, knowledge extraction becomes a significant research area. This paper was designed to explore an approach to conduct knowledge extraction by establishing project risk ontology. Specifically, the study proposed the ontology-based risk management (ORM) framework to enhance the RM performance by improving the RM workflow and knowledge reuse. The ORM framework facilitated the identification, analysis, and response of project risks. This study validated the ORM framework through a case demonstration. Through the implementation and application, the results demonstrated that the ORM framework was able to apply to the RM workflow for contractors, and more importantly, it greatly increased the effectiveness of project RM.
- Engineering decisions
- Knowledge flow
- Process-oriented knowledge management
- Project risk management