Project organizations are required to continuously improve the quality of their projects, including meeting and exceeding customer requirements in terms of project cost, schedule and technical performance.  Since organizations are increasingly choosing project work as a flexible structure for the development of their products and services, project managers have the responsibility to implement learning processes towards continual improvement and effective knowledge management if they wish to remain competitive. Benchmarking is globally considered as a catalyst for innovation and its significance as a method for improvement is indisputable.  65% of Fortune 1000 listed organizations employ benchmarking as a management tool to gain competitive advantage.