Knowledge management could be viewed as an explicit and systematic approach to capturing information and knowledge about a company, its processes, products, services, markets, customers and competitors and then storing this in a place where relevant personnel can access, distribute it and make use of it. It is an ongoing and unique process; it is management of intellectual capabilities, potentials and skills of people with the aim of improving performance and coping with change. Construction industry is an extremely complex sector accompanied by numerous changes and innovation. Materials, technologies, environmental conditions but most of all co-workers and finished products change from one project to another; on the other hand, however, several common features can be observed in various construction projects. This has to be taken into account, if an efficient knowledge management in a construction company wants to be achieved. Several knowledge management models have been developed over the past years. A construction company needs to get acquainted with the different models in order to create its own system for acquiring both tacit and explicit knowledge, which contributes to improved business success and the company's competitive edge. The thesis discusses the importance and main characteristics of knowledge management in construction. Selected knowledge management models applied to construction from the available literature are described. The analysis of two Slovenian construction companies is carried out by using a questionnaire. The obtained answers show that both companies are aware of the importance of knowledge management, and that they are willing to further develop this area. In the last part of the thesis, a draft form for data extraction is proposed that would enable the transfer of knowledge and experience from a completed project into a new one.