Knowledge management helps in optimizing the acquisition and usage of knowledge which, when combined with data and information, forms a knowledge asset. Project managers are encouraged to develop an effective system that collects and stores project-related knowledge. This should include capturing all learnings and experiences, formal and informal sources of information, technological advancements and user requirements, lessons learned, technical training, as well as understanding user experience and needs.

Project knowledge management strategies can include various elements, such as creating and organizing content and templates, knowledge databases, having appropriate methods and practices to facilitate communication between team members, and having consistent protocols and procedures in place. Additionally, having a process of continuous review, validation and curation is important in keeping project knowledge up to date. Finally, leveraging technology is a must for quickly searching and delivering information to team members. It is in the executing process group and integration management.

Project managers must pull together the pertinent data and keep a close watch over it to ensure the highest value is achieved and that the organization can develop and grow. By doing this, they are able to maintain a balance between meeting their objectives and assisting with the expansion of the business. The configuration management plan is used as input to manage knowledge.

When it comes to managing project knowledge, it is important to remember that the process is cyclical. This means that the project manager should not only focus on delivering value and contributing to the organization's learning and growth, but also on using the knowledge gained to create new knowledge. By doing this, the project manager can continue to deliver value and help the organization grow.

See also: