Knowledge Management (KM) became a very common term in the 21st Century, and was applied on a wide range of activities and areas for managing, creating and enhancing intellectual assets. This area witnessed significant contributions from scholars and extensive accumulated expertise. Powerful organizations are always characterized with their efficiency in managing their strengths. Organizational resources are considered vital strengths, and knowledge is among the most substantial resources which should be managed. There is no a widely accepted process for knowledge management; however, creation of appropriate knowledge flows remains the central objective of knowledge management. Knowledge Management System is an information system supporting knowledge management process through providing required knowledge and enhancing its flow. Organizations are increasingly recognizing the need for introducing appropriate methodologies for the development of targeted knowledge management systems; nevertheless, such methodologies are not sufficiently comprehensive to cater for all organizational needs. Concrete methodologies can be developed through establishing proposed summary methodology and adding necessary details to come out with customized methodologies that fit better with organizational needs.