Knowledge management in project environment: the way to improve the value of the enterprise organization

Purpose - This paper aims to study the improvement of project success in organizations by integrating knowledge management strategies with project management practices in a typical project lifecycle, assuming that the projects are the tools by which organizations achieve the strategic objectives. The knowledge created in the projects environment in almost any case is lost due to inefficiency of the processes of the enterprise organization. This leads to inefficiency in developing processes already done in previous projects. The proposal highlights the importance of an efficient approach to knowledge sharing demonstrated on a project management level. Design/methodology/approach - I propose an approach for improving the profitability of the projects through the management of an integrated system of knowledge management in the enterprise organization. The approach involves the definition of the organizational processes of knowledge management that integrate with ISO 21500 project management and the ISO 10006 relating to quality management in project management. I propose the creation of a new area of knowledge ("Knowledge Management") with a process in four of the five process groups (Planning, Executing, Monitoring and Controlling, Closing) in which all the processes defined in the standard are grouped together. Originality/value - This methodology highlights the need to manage all the knowledge that is generated within a project, from the organizational point of view (historical information, best practices, knowledge of the processes, lessons learned ...) and from personal point of view (experience, knowledge management practices, lessons learned, ...), in order to improve organizational processes, reduce the time of project management and reduce the cost of the project. One of the main objectives is to achieve the continuous improvement in project management. Practical implications - The outcomes of the application, through the management, in a centralized way, of the knowledge produced in all the projects managed by the enterprise organization and the knowledge obtained by all the people who participated in the projects, allows to reduce time and cost of project management, a better organization of the projects, the growth of intangible capital of the organization and work towards continuous improvement of the organization.