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Integrating PM & KM
Many corporations have come to the conclusion that creation, transfer, and management of knowledge are critical for success. Both PM and KM play a key role in improving organizational performance in delivering products or services better, faster, and cheaper. KM would lead to improved communication, improved productivity, better decision making, enhanced collaboration within a project team and across projects, and improved skills of project team members. Using KM with PM will lead to several benefits such as better project integration, reduced risk associated with unknown factors, and continuous improvement of project execution. KM would also help to distill new processes from previously executed projects.
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