**1. Introduction**

114 Risk Management – Current Issues and Challenges

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Many domains reached a point in which the knowledge required for skillful, professional practice can no longer be acquired in a decade, factor that generates increased specialization [2]. This increased specialization makes collaboration crucial because complex problems require more knowledge than any particular person possesses. The relevant information required to solve complex problems is normally distributed among different persons or stakeholders. In order to create insight, new ideas or new artifacts it is considered a prerequisite to bring different and often controversial points of view together, and create a shared understanding among stakeholders. It is generally considered that insight moments for creative individuals are the result of working in isolation, but it has been proven that the role of interaction and collaboration is critical [19].

Collaboration is a very dynamic process that combines functionality that supports communication, management and involves content handling. During the execution of a project team members are not always collaborating and their work alternates with cooperation, when a greater emphasis is placed on a value-chain model of producing results. Project management is a tool used to provide a team the capabilities required to produce the benefits defined by vision [24]. Risk management is a critical element in defining the relationship between risks, uncertainty and objectives thus contributing to the chances of success in the execution of a project [9]. In the present context of information society both project and risk management should reconsider collaboration by thoroughly understanding its mechanisms and adapting its tools in order to fully harness it. In this study we will present some of the main aspects regarding collaboration that are relevant in order to build an efficient project and risk management strategy. This will be followed by some approaches from software development that we consider relevant for the context and present our risk management approach for similar projects.
