This study aims at suggesting an integrative methodology for planning knowledge management initiatives. First, four major underpinning assumptions which should be addressed in knowledge management are identified through literature reviews on strategic information systems planning and knowledge management. Based on these assumptions, we introduce a knowledge strategy planning methodology, called p(2)-KSP methodology. The p(2)-KSP methodology places its emphasis on improving organizational performance by identifying and leveraging knowledge directly related to business processes and performance. The methodology consists of five phases: business environment analysis, knowledge requirements analysis, knowledge management strategy establishment, knowledge management architecture design, and knowledge management implementation planning. After its detailed procedures and related features are explained, results of applying it to a large semiconductor manufacturer's knowledge management project are discussed. (C) 2003 Elsevier Science Ltd. All rights reserved.