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The `know-how transfer method' is presented to improve engineering or project management. Know-how can be stored in a computer since a mapping tool between know-how and project work packages was developed. Effective know-how extraction consisting of relationships between know-how and external factors is also presented. As an application of the method, this paper demonstrates the risk management system for the large project execution stage now being used at Hitachi Ltd. This system assists a project manager in achieving more effective control of risks by systematically providing a wide range of information on possible risks during the course of a project, as well as strategies to overcome these risks.