Creating a knowledge-pull framework for project-based risk management in the oil industry

In order to promote economic and social sustainability in these insecure times, it is important for people at all levels in an organization to deepen their understandings of risk. Risk management must be proportionate to the complexities of organizational activities, and must be continually updating to meet changing needs and activities. A joined-up, integrated approach across the whole value web is therefore desirable. It is not a matter to be left to ‘experts' but must be embraced by all stakeholders and ideally it must cross organizational boundaries to include external partners. Effective knowledge-sharing (and also considering when knowledge should not be shared) underpins any risk management strategy. Understanding critical issues before threats arise empowers people to act swiftly and effectively to ameliorated their impact, and this is best achieved through team working and knowledge-sharing. In the oil industry this is of particular importance, as the results of poor risk management can be catastrophic, not just for the company and its customers but for the environment more generally. The current study is based in an oil company. It explores the literature of the field in order to discuss good practice in knowledge-sharing, then 20 past organizational projects within the company will be analysed, in order to identify both examples of good practice and knowledge-sharing gaps. A review of relevant literature suggests that promotion of effective knowledge-seeking behaviour is key to establishing a knowledge-pull framework for project-based risk management.