What is Codified Knowledge Systems

Information technology (IT) project disasters make worldwide headlines, and billions of dollars have been lost due to poor project implementations. The Standish Group, a research advisory firm, reports that only one-third of the over 13,500 IT projects evaluated in 2003 were successful, and half of the reported IT projects were classified as challenged, meaning they experienced cost and budget overruns (Larkowski, 2003). While the state of IT project management is improving, organizations must explore ways to reduce unnecessary spending that occurs because of failures, cost and schedule overruns on IT projects. One possibility is to improve knowledge sharing to avoid repeating mistakes and to build on successes from the past.