Knowledge and its management for Disaster Risk Reduction: An approach to Sustainable Development Punya Sagar Marahatta 1 Monika Dhungana 2 Abstract Knowledge is power. This has contributed for the evolution of human civilization which directly is linked with development activities. Among broadly classified two types of knowledge, the tacit knowledge is being practiced as culture by the communities often being unaware of its potential for sustainable development. Disaster vulnerability is the function of sustainable livelihood of community which is only possible through proper management of knowledge residing on human mind and practices. The more community is knowledgeable, the less vulnerable it is. This paper identifies the modern approach of engineering and technology has overcastted the tacit knowledge/ technology; often by considering them to be rudimentary or superstitious. Among several modes of cultural practices like folk lore, songs, stories, anecdote; proverb is effective means of socialization, internalization, externalization and combination as proposed by Nonaka & Takeuchis’ Knowledge Management model. Furthermore it advocates the importance of tacit knowledge embedded in culture in the form of local proverbs which could be practiced for Disaster Risk Reduction approaches which eventually contributes for sustainable development. 1. Background 1.1. Knowledge and its management Mahatma Gandhi, the legendary leader of South Asia has once said that he has nothing new to give to the world; the truth and non‐violence are as old as the mountains. This reveals that truth and non‐ violence existed in society in the form of knowledge. Such knowledge embedded in society was good enough to live happy. Ultimately, what development aims other than the happiness? Happiness according to several such Gurus lies on fearless, democratic, equitable, non‐discriminatory, 1 Mr Punya Sagar Marahatta is an architect and Asst. Professor in Department of architecture and Urban Planning, Institute of Engineering, TU. He has M.Sc. degree in Architecture and M.Sc. Urban Management and development and currently he is conducting his Doctoral research on Community Based Earthquake Vulnerability Reduction. 2 Ms Monika Dhungana is a civil engineer with M.Sc. degree in Water Resources Management. She is currently working as lecturer in Kathmandu Engineering College, Tribhuvan University.