Strategic Knowledge Management and its effects on Cost Management in projects

摘要

In the information age, organizations face a dynamic environment, where they have to be on the lookout for avenues to sustain their competitive advantage. The growth of Internet and globalization, to name a few factors, have resulted in information interchange and availability, bringing down the period for which organizations can hold on to their competitive advantage. One of the ways in which organizations can sustain and improve their competitive advantage, in the current environment, is to reduce cost and thereby maximize value. Organizations have realized that this could be achieved by implementing a knowledge management system and leverage on the benefits of this system to reduce costs. In this paper, some Strategic Management fields in Knowledge Management has been introduced and presented with the main focus on Cost Management in projects.