Knowledge Management, Project Integration And Corporate Sustainability

Every project generates project knowledge that is new knowledge or existing knowledge. However, that project knowledge is not always fully captured, transferred, and disseminated during a project. Due to the nature of projects, this implies a short-term period, limited resources, and multiple procedures. It makes project participants adapt rapidly to new project contexts. There are two mainly obstacles for organizational learning. First, project members do not have enough time to participating in sharing and disseminating activities because the project team members are totally engaged with project tasks (Hanisch et al., 2009). Then, the replacement of key team

In order to manage knowledge successfully, it is essential to clarify the essence of knowledge before identifying the importance of knowledge management. The perception of knowledge has been varied broadly; however, one of the generally accepted defintion is from Davenport and Prusak (1998). According to their points of view, knowledge is defined as a set of experience and values, it either comes from individuals ' mind or roots in the organisation, which can be found in the documents, routines, practices and norms, and is assumed to flow between individuals through various networks, being used to assess and embody new

Knowledge is considered as one of the most important and competitive resource for sustenance of the organisation (Zack, 1999). It can be compared to the strategic resource that can be used and applied in various frames of the organisation. Experienced managers in the organisations believe that company can receive strategic advantage through knowledge and not the strategies or actions implemented by competitors. Knowledge can be regarded as a strong approach that opens numerous ways of success. It is that weapon that help organisation to evaluate solutions in financial and other professional difficulties.

Through our examination of Hislop (2013) and other supporting material during this class, we have discovered the characteristics and nature of knowledge management strategy. Using my organization as a back drop it has become clear the one does not merely undertake a knowledge management program and expect success. Instead, it requires a thorough examination of the organization, essential knowledge, key roles, policies, politics, available technology

Knowledge Management (KM) uses various ways to identify opportunities for improvement (OFI). What needs to be remembered is that KM improvements are not simple, they are in fact complex. “They must be integrated with changes in work processes in other units to yield benefits” (White & Griffith 2010, p. 334). Because important projects can take several years to complete it is important for KM to have a sophisticated planning process for continuous improvement. In order to have a successful

Knowledge management was defined as the turning of information into actionable knowledge which can be accessed by people who can apply it. Robbins (2003) gives a time perspective in his definition of knowledge management. He mentions as part of knowledge management the distribution of the right information to the right people at the right time. Lytras et al (2002) gives a definition of knowledge management which emphasises the purpose of knowledge management. In the definition creation of new capabilities, enablement for superior performance, encouraging innovation and enhancement of customer value were mentioned. For the purpose of this study the researcher summarised knowledge management as the intentional process of coordinating people, technology and systems to optimise creation and sharing of intellectual

The superior capabilities of knowledge management systems provide an opportunity for the business to engage the most effective components and recognize the importance of communication to make informed, accurate decisions (McGrath, 2001). This system can organize the company’s knowledge resources, knowledge obtaining, organizing, and applying to make a sound routine the will enforce effectiveness (Niu, 2008). The dynamic function of knowledge management to create, capture, and apply knowledge to achieve an organization’s objective will allow them to be more profitable and successful (Zucker, 1986). In addition to increasing profits, the system can be also used to reduce costs and enhance research and development (DeTienne & Jackson, 2001). With all of these advantages, it would be wasteful for a company to not employ knowledge management. As seen in the Discovery Communications, Inc. example, the company can attribute their new productivity levels and increase in ease of securing documents to the knowledge management system that put into place by Carefree Technology. Like Discovery Communications, Inc., knowledge management is so popular today because companies can collect, process and share knowledge to ignite employees ' creativity which in turn will make the business grow. Wenhong and Jianhua (2009) explained the core of knowledge management is to convert company’s knowledge resources into an increased company

Institute, Project M. A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Fifth Edition, 5th Edition. PMI, 01/2013. VitalBook

With the benefit of hindsight, it is apparent that in the knowledge era, creating and leveraging knowledge is the business of business. By all available measures, the stock market is already providing handsome rewards to companies that successfully leverage their knowledge--a phenomenon that will almost surely grow in significance as knowledge-based organizations increase in size and number. A number of firms are anticipating this and looking to knowledge management to enhance, measure, and manage the knowledge of their employees and organizations more effectively.

Since the mid-1990s, knowledge management has become increasingly significant for business managers and companies. ‘It is broadly accepted that systematic knowledge management is tightly linked with gaining and sustaining competitive advantage.’ (Bogner & Bansal, 2007, p658-6 as cited in Hislop, 2009, p1) The definition of knowledge management is various because of the wide range of this concept and its complexity (Al-Hawamdeh, 2003). For example, the broad definition provided by McAdam and McCreedy (2000, p155 as cited in Hislop 2009, p53) note that: ‘KM relates to the management of anything classified as knowledge’ Furthermore, Hislop (2009, p59)

Knowledge management refers to organising and sharing the various forms of business information created within an organisation (Marakas and O’Brien 2013). Knowledge management is important as it increases the capability of a firm to learn from its environment and to incorporate knowledge into its business processes (Laudon & Laudon 2014).

Knowledge Management has been a core requirement of many organizational practices and mostly in gaining competitive advantage over other firms. Knowledge itself is precious but if not used properly, then

In today’s global economy, every organization is steering their processes in the best possible manner to achieve the competitive edge. Project management has proved itself as viable and one of the best options to deliver preeminent business results. To understand the need of project management, it is crucial to understand why the project should be established within organizations. Projects add value to the existing operations and practices of the organization. To deliver a unique product, to construct a new facility, to enter a new market and to establish various transitions and development, project is necessary. A project is a temporary endeavor to create a new product and services or a result from the optimal utilization of the resources.

Knowledge management – how organizations track, measure, share and make use of intangible assets such as an employee’s ability to think fast in a crisis – is increasingly important in a fast-changing knowledge society. Organizations have always managed knowledge, even if they did not use the term knowledge management. For example, a person experienced in operating or repairing a particular machine could pass their knowledge on to newcomers.

The concept of knowledge management (KM) was introduced early in 1990s, which include business administration, public policy, information systems management, library and information sciences. Knowledge Management became popular in the 1995 with the publication of The Knowledge- Creating Company written by Nonaka and Takeuchi.