Many features can be found similar in nature while studying previously implemented projects, if they are analyzed for capturing their embedded knowledge. These are regarded as the most inherited valuable assets which are usually neglected unintentionally at work. They can be utilized quite successfully for projects to be implemented in future. If this tacit knowledge is revived successfully in a systematic manner, it can be used as a guidance tool while implementing future projects with smaller risk takings. Inability to convey this knowledge to the implementers of the new projects, seems to be a harsh condition at present, which calls for a serious challenge to devise a methodology for capturing and conveying this needy asset. People who move from one place to another always carry experiences and professional ties with themselves. Therefore their knowledge should be accessed via informal networks. Documenting systematic errors can unveil hidden traps which can be sources of risk taking conditions and present valuable lessons for implementing successful projects. This paper aims at presenting a model for capturing the embedded knowledge of previous projects in the motor vehicle industry. It is intended to get the explicit hidden value in the projects. The results of implementation of this model are applied to the Iranian motor vehicle industry to validate its effective applicability for which satisfactory results are found.

In a post-industrial society, knowledge is an economical and strategic resource which provides a background for knowledge-based organizations. Companies and academics have highlighted the importance of knowledge as the basis of competitive advantages. Nowadays, accessible knowledge at organizations accounts for their main assets. The value of these assets in a competitive situation is considered as the mental asset of this organization. The competitive advantage of the organizations cannot be regarded as their belongings, since their main assets can be knowledge, which belongs to organizations that in a best way utilize organizational knowledge to materialize organizational goals (Abbasi, 2008).

In 1948, Polanyi has classified knowledge into two—tacit and explicit (Adli, 2005). Nonaka and Takeuchi have confirmed the classification and they have suggested a model to its completion. This model depicts a spiral form for knowledge creation. In creating knowledge, the conversion of tacit knowledge into explicit one is the most important issue and the present paper has paid particular attention to this issue (Nonaka and Toyama, 2003 and Afraze, 2007).

Knowledge Management Journal, Iranian Motor-Vehicle Industry, Informal Networks, Organizational Knowledge, Organizational Goals, Systematic Process, Project Finalizations, Error Procedures, Education Process, Illustration Process, Electronic Mails, Organizational Resources, Organizational Culture.