APQC’s study Managing Project Knowledge examined how strong project management offices determine the most important indicator of the value of knowledge management (KM) within project management. Most of the featured organizations see feedback from project teams as most important. Because the firms focus their KM strategies on helping project personnel improve their performance, the perceptions of this internal customer base are paramount. The organizations feel that their KM efforts are worthwhile if—and only if—they provide value in the eyes of the project managers and teams they support. This article summarizes how the featured organizations assess the value of KM activities on project performance.