Effective collection and dissemination of project information including procedures and guidelines that help increase the likelihood of construction management success is vital to organizations. Inside the construction industry these pieces of project information are referred to as "best practices." In a global economy, it is crucial to have successful practices standardized and accessible across organizations when needed. Best practices can help improve project performance, yet these practices are not implemented universally in the industry, because of the following: Not all practices are applicable to every project or organization; knowledge is lost in organizational turnover (which leads to inconsistent collection and implementation of best practices); and there is a lack of standardized processes for best practice management in an organization. This study, sponsored by the National Academy of Construction, the Construction Industry Institute and Arizona State University, used structured interviews and a Delphi study to examine the best practice management process further, common pitfalls, and the efficacy of an open repository of best practices repository. This paper presents the authors' findings to date, specifically exploring the term "best practice," its definition, elements that hinder implementation, and the potential value of an open online repository for such practices in the AEC industry.