Unknown project risks play a critical role in the successful execution of projects. These risks may originate from internal or external sources and can present opportunities, threats, or neutral outcomes. The objective of this paper is to examine unknown project risks that may affect project outcomes. It discusses the challenges associated with identifying unknown risks and highlights the role of project managers and risk management teams in managing these risks and their potential impacts as well as in transforming unknown risks into known and manageable risks through structured risk identification, investigations and continuous monitoring. Effective identification and management of unknown risks enhance project decision-making, reduce uncertainties, and increase the likelihood of project success. This paper also presents a case study on the implementation of new technologies in Saudi Aramco. The study examines the challenges encountered during implementation and demonstrates how thorough investigations and clarification of identified uncertainties, known and unknown risks contributed to the successful implementation and adoption of these technologies within the company.