Purpose Knowledge Management (KM) is by now a recognized term, increasingly accepted in the corporate community. This research contributes a better understanding of its implementation by providing a list a factors, which though each seems self-evident, their combination, and the experience acquired in applying them would support practitioners applying KM, and constitute a stepping stone for researchers for deepening the knowledge about it. Research context Israel Aircraft Industries (IAI), where this research has been conducted, is a large aerospace and defence company that has gone through a change process inclusive of KM implementation. Research approach A qualitative research strategy with a constructivist paradigm using action research (the author also being the director of knowledge of the company), was used. A case study methodology has been utilized over five divisions representing the average KM performance in the company. Sources of information have included questionnaires, interviews, data from the various management tools employed by the programme, and author's observations. Success factors for KM implementation The factors relevant to the General Manager of an organization and to the Knowledge Manager were found to be: The profile of the knowledge manager. The perception of relevance of KM to the business. A structured framework for the organization to follow. The acceptance of long term values. Management support. The openness of the General Manager to external knowledge. The knowledge manager's initiative. Originality is found in: Application of a comprehensive KM framework, its procedures and measures. A multi-level measurement of KM goals as a link to the organization's business goals. Application of the Hoshin Kanri method for the management of KM. Application of a staged assessment of maturity for a KM implementation. The factors mentioned above, their peculiar combination and further understanding of the GM and the knowledge manager roles.