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Project Management and Knowledge Management

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The focus of knowledge management remains on recognizing useful knowledge, and maintain the knowledge in a suitable way so that it becomes easy to maintain its worth with recycling, and it could be distributed in an effective manner. Furthermore, by means of contemporary information technology and a supportive organizational environment, an organization can convey its whole knowledge and organizational memory to deal with any issue at any time and anywhere in the world. Therefore, for the success of organizations, knowledge, in the form of capital, must be transferable among as well as it must be developed continuously.

In addition, knowledge regarding problem-solving can be maintained, in this way, knowledge management can encourage or support organizational learning, leading to more knowledge development (Turban, Leidner, McLean, & Wetherbe, 2005, p. 451). When we talk about the principles and techniques of the project management we frequently relate them with the management of people (i. e. workers, staff). However, the management of people comprises the tasks such as, establishing the objectives that business unit will achieve, planning the number and type of who will work to accomplish these objectives, managing the personnel, inspecting their performance of the roles and jobs assigned them, and lastly bringing a close to their efforts.

But, these methods and principles also apply to the projects. In addition, the project management is a process and a collection of methods based on the accepted principles of management employed for estimating, planning, and controlling work activities for accomplishing desired objectives in due course, according to specification, as well as within the available resources (Gray & Larson, 2006; Wysocki, Robert, & Crane, 2000).

According to Leseure & Brookes (2004), the aim of effective project management is to implement four fundamental procedures of project management.

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