Knowledge management (KM) plays a very significant role in today’s business environment, which is characterized by radical and discontinuous change. Because of ever-increasing global competition, the traditional sources of competitive advantage no longer seem to be sufficient. For survival and growth, engineering industries have to look again at their strategies to remain competitive. KM is now viewed as an important strategy to meet these ends. Recognizing the value of knowledge is key to innovative thinking and corporate investment, and is the cornerstone to the long-term survival of engineering industries. KM is also considered as an integrated systematic approach for identifying, managing, and sharing all the information assets of the organization, including databases, documents, policies and procedures as well as previously unarticulated expertise and experience held by individuals, groups and departments. KM has been one of the major interventions in most engineering industries during recent years (Singh et al., 2003a).