Knowledge management contains all operational activities used in one organization and management tasks that are targeted to the knowledge of the competitive factors. This term describes all organizational strategies that provides in time the necessary knowledge to the employees to increase the effectiveness of the company. The focus is to create a smoothly information flow between project stakeholders, technology and project organization and to provide a long-term access to the gathered information.
The task of the knowledge management is to use profitable the resource information. As the knowledge individually occurs by the employees, the knowledge management provides for its distribution to the other project stakeholders. The following functions are thereby fulfilled: to clarify the ways to the knowledge distribution; to make transparent the competence of the employees; to document the project results; to support the knowledge exchange via employee training courses; to provide a forum for the information exchange. The component parts of the knowledge management are acquirement or acquisition, utilization, distribution, archiving of the knowledge content. Each project is a cognition or new knowledge that are edited by the knowledge management.