We know that in comparison with the organizations, which are supported by structure and routines to suck up knowledge, project based-organization do not have any supportive natural transfer mechanism and also do not have any organizational memory, as they are temporary in nature. So, without a certain knowledge system and supporting culture during a project's life cycle, knowledge assets can misplaced once a project is completed. This results in organizational knowledge destruction and loss of organizational learning. Knowledge management (KM) for project is vital for organizations to achieve competition and to survive in a dynamic environment. However, it's is not an easy task, planned management efforts are require to capture and transfer of knowledge in projects. This study aims to analyze critical factors of knowledge management in the project based-organization with the help of ISM.This study shows that top management support, investment cost, organization and IT infrastructure are the main enablers of managing knowledge in the projects and it is advocated that project managers should harmonize KM practices with organization culture and launch a user-friendly system.