Increasingly risk management plays a strategically important role in construction related companies. Recent high profile corporate failures and loss of shareholder value have been attributed to poor risk management. Research shows that open communication and timely information are vital for the management of strategic risks. To deliver adequate support for risk based decision making a flexible and seamlessly integrated ontology based architecture is proposed. This new architecture is constructed around two essential concepts, 1) The modeling, mining, and reuse of domain knowledge using an ontology, as well as the integration and 2) the use of semi-formal risk models for mining non-intuitive operational and process insights.