This paper aims to study the improvement of project success in organizations by integrating knowledge management strategies with project management practices in a typical project lifecycle. According to the Standish Group’s Chaos Report for 2009, only 32% of all surveyed projects are considered to be successful and are delivered on time, on budget, with the required features and functions. This could be an indication that project management practitioners have not fully acquired and transferred knowledge learned from past projects to ensure a higher success rate for current and future projects. Knowledge management is an emerging discipline and practice in organizations. This paper proposes an integrated model that combines knowledge management with project management to improve project success and thus contribute towards competitiveness and sustainability in organizations.