Understanding the role of knowledge management in project management and how knowledge management affects project performance and outcomes / Jaymi Alexis F. Esteban

Year : 2012

Number of Pages : 97 leaves

Adviser : Prof. Serafin D. Talisayon

Executive Summary

Knowledge Management and Project Management are different technology management areas but can be integrated to improve project performance. First, this report will discuss about project management. Second is knowledge and Knowledge Management in reference to project. Third is the integration of Knowledge Management with Project Management as a result of previous project management performance studies and reports. This study first discuss what project management is and each stage is discussed. There are three (3) major stages of a project that project manager should consider as integral in project. These are project initiation, execution and project closeout. Project management includes defining the project, planning, execution, control and closure. In the project initiation which involves mostly planning and presentation of a project to top management, management of how to communicate this information to the managers is crucial. Gathering information on the business strategy is important at this stage in order to understand and present well the purpose of the project. Once the project is approved, formal planning will be executed and this involves selecting a project manager. The project schedule is carefully planned which includes understanding the project deliverables. The project team should include in their planning contingency and risk assessment. Proper knowledge of the project requirements, resources, budget and the time allotted will aid in creating a reliable project plan. Sharing of knowledge during the project lifecycle is also important, such area is address by developing a communication plan which focuses on knowledge sharing. It is normal to project managers to use best practices and industry standards in implementing projects. During project execution, project managers should implement controls. Such tools aid project managers to limit and control system changes, which affect the schedule of deliverables and milestones. These changes impact the overall project completion schedule. Project closeout involves the whole team, including management and representatives from the end user. In practice, a review of the project outcome and performance is done, in reference to the expectations and objectives. Lessons learned are captured and listed. Knowledge Management on the other hand is the method of managing the knowledge in a particular area, in this case, project management. Knowledge Management is the process of how these knowledge or information is gathered and how this will be shared among the people with concern on the project through effective channels and at the right time. An organization must understand how to use the value of knowledge management practice in order to apply effectively in project management, through the aid of available technology and methodologies. These activities consist of actions such as capturing, organizing, refining and exchange of captured knowledge. Part of this study is looking into adapting road map is establishing a Project Management Office (PMO). Several studies which are shown in this report present common reasons and factors which cause project failures. Though the reports did not clearly mentioned the lack of Knowledge Management, most of these project failures factors can be addressed through the use of Knowledge Management. The author looked into a current project and lists a few issues that impacted the project progress and performance at an early stage, such as different understanding of the project scope and deliverables. By analyzing each issue, it was found out that if Knowledge Management was applied, then such issues can be avoided or at least controlled.