The paper proposes a research framework for risk identification approach in collaborative networks dedicated to develop a formalizing, structured reference for risk identification and risk mitigation and explore an effective mechanism that can motivate diverse partners to manage risks collaboratively. The approach is based on a formalized vision of Danger/Risk/Consequence chain that is defined as the primary schema of the proposed methodology. The DRC chain indicates five risk-related concepts and their interrelationships, which is able to well describe risk-related collaborative contexts. Cascading effect in the concept chain are presented for further interpreting. Furthermore, a supply chain scenario of three use cases is given to illustrate the proposed framework.