The University of Waterloo's Center for Pavement and Transportation Technology, CPATT, is committed to knowledge management as a cornerstone of it's long term strategic planning and sustainability. Knowledge is considered as an asset; it has value, and thus should be integral to asset management. In CPATT's approach, three basic types of knowledge are used: • Explicit, which is essentially documented information • Implicit, or "know how", and • Tacit, which is related to human creativity or innovative capabilities. A case example research initiative incorporates the following strategic elements: • Identifying the activities of CPATT within explicit, implicit and tacit types of knowledge • Considering knowledge management (KM) and succession planning as synonymous • Establishing the rationale for KM, identifying the key components and establishing the cost-effectiveness • Ongoing program of training and skills development • Developing realistic policy objectives, measurable, key performance indicators, and implementation targets • Establishing a comprehensive governance structure.