Abstract
This chapter reveals the roles of Information Technology (IT) and Knowledge Management (KM) in Project Management (PM) metrics, thus explaining the theoretical and practical concepts of IT, IT capability, Information System (IS) effectiveness, KM, and PM; the measures of IT, KM, and PM metrics; and the significance of IT and KM in PM metrics. The fulfillment of IT and KM is essential for modern organizations that seek to serve suppliers and customers, increase business performance, strengthen competitiveness, and achieve constant success in global business. Therefore, it is crucial for modern organizations to explore their IT and KM applications, establish a strategic plan to routinely inspect their functional advancements, and promptly respond to the IT and KM needs of customers. The chapter argues that applying IT and KM in PM metrics has the potential to enhance organizational performance and achieve strategic goals in the social media age.
TopBackground
The information age is one of the most argued topics in recent years (Işık, 2013). The IT is universal in nature because modern IT crosses organizational activities, and has become aligned with business activities (Ko & Fink, 2010). The use of technology has caused critical dependency on IT. The economic and administrative world deals with government service delivery, thus involving a complex mix of political, organizational, technical, and cultural perspectives (Sethibe, Campbell, & McDonald, 2007). In the view of increasing levels of business and technology change, chief information officers (CIOs) should build the standardized and flexible IT architectures in IT organizations (Brown, 2006).
Organizations respond the business challenges through strategic initiatives (de Oliveira Lacerda, Ensslin, & Ensslin 2011). Organizations hope to improve corporate competitiveness and business enterprise through the practical implementation of IT strategy (Yeh et al., 2012). Stylianou et al. (2013) stated that organizations can derive competitive advantage from developing and implementing IS. If project-based organizations wish to initiate KM initiatives, they must ensure that members of project teams are familiar with KM, and have a clear strategy for contributing to the specific KM initiatives (Pieris, David, & William, 2003). KM is an array of interdependent activities aimed at developing and properly managing an organization’s knowledge (Liao, 2011). KM is expected to improve and create competitive advantage for business enterprises (Shih & Chiang, 2005).