As practical knowledge seems to have a central place in organisational issues, we focus on possibilities to study and formalize it. From an unusual theoretical perspective, we view practical knowledge as embodied knowing which only is only manifest through action in a particular situation. Although this knowledge is largely implicit, we try to make what is 'articulable' explicit. After highlighting the stakes involved in the codification of practices, we review the ontological and epistemological assumptions underlying the method developed. It is founded on participant observation, a video recording of a situated subjective perspective and an ex post interview using this perspective to aid an actor to make part of his/her practical knowledge explicit. We present its implementation within research on polar expeditions in order to understand how an experienced actor deals with risks. In conclusion, we point out (1) the importance of this kind of data in knowledge management, (2) some lines of further research.