Project Management is a field of management dealing with using available knowledge, skills, tools and technology to fill needs and expectations of projects principles. The main goal of this article is to show how knowledge management powered by AI can be used in projects, why it is so important nowadays and how it can impact on the projects effectiveness in a positive way. In the first part of the paper the author focuses on definition and division of knowledge. The second part relates to project management basics. The last one focuses on role of knowledge management in projects.