Project Risk Management

Project Managers rely on their accumulated experience and that of their team to better identify and manage risks in subsequent projects. The importance of knowledge transfer or mentoring as a way to pass tacit knowledge (experience) inter-generationally is discussed widely. But this relies on the proximity and mutual exchange within a Project Management context. Learning or lessons learnt is another way experience is typically captured in projects. This sender/receiver approach to the transfer of learning from one project to another appears to be inhibited by; the context of the project, the lack of time, obscure relevance, or purpose. Knowledge is superseded by technology change or new practices resulting in some historical knowledge no longer being relevant or aligned with business strategies. There is a concern that the knowledge captured in the minds of the senior project managers is not being passed on to the next generation, conversely, it may be that much of the knowledge that they do have is in part obsolete and has been superseded by new methods and systems. What impact will this have on risk management in future projects?