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The goal of this study is to describe and analyse the knowledge management and sharing in a project team. The brief results of the study showed that the investigated project team at Ericsson manages knowledge gained from their project within knowledge management systems. However, the practices used by the project team in order to manage knowledge have risks of inefficiency. The major shortcomings in project knowledge management were noticed in knowledge presentation, validation and distribution process. The main source for sharing knowledge within the project team is through project meetings before, during and after the completion of project apart from Scrum meetings, communities of practice, and pair programming. Additionally, the project specific factors showed their potential to really influence the knowledge sharing within the project team.