[an error occurred while processing this directive][an error occurred while processing this directive] Auerbach Publications © 1999 CRC Press LLC 08/99 INFORMATION MANAGEMENT: STRATEGY, SYSTEMS, AND  TECHNOLOGY THE ROLE OF PROJECT MANAGEMENT IN KNOWLEDGE MANAGEMENT Ralph L. Kliem INSIDE Basics of Knowledge Management and Project Management; Work Breakdown Structure; Controlling and Leading Projects INTRODUCTION Knowledge management (KM) involves collecting, organizing, and dis- tributing knowledge that is accumulated over a period of time for the pur- poses of improving and increasing a company’s competitive edge. This knowledge is more than mere facts and data. It is information and expe- rience collected and applied to achieve the overall goals of a company. Surveys by IT research firms reveal the popularity of KM. For exam- ple, a survey of 500 professionals by the Delphi Group revealed that more than 50 percent of the respondents have begun implementing KM, and more than 80 percent saw it as a major contribution to their compa- nies.1 Dataquest Inc. estimates that KM will grow from a $2.7 billion mar- ket in 1997 to a $5 billion one in the year 2000.2 Several advantages have been attributed to KM, and include: •  dealing with “gray” situations with greater confidence •  encouraging greater collabora- tion among employees •  identifying best practices •  improving the capacity for prod- uct and process innovation •  increasing the competencies of existing employees •  minimizing the negative impacts of employee turnover •  responding cost-effectively to rapidly changing environments PA YOFF  IDEA A KM project is implementing knowledge man- agement disciplines, tools, and techniques to build a system that will achieve specific goals and objectives. The challenge, of course, is to collect, organize, and distribute knowledge to achieve the goals and objectives that are often as vague as the definition of KM. This can lead to scope creep and overlooking customer wants and, ulti- mately, wreak havoc on cost, quality, or schedule performance. The challenge, then, is to ensure that KM projects are completed in a timely, effi- cient, and effective manner. Project manage- ment is the way for doing just that. 1-04-15