The emergence of knowledge-based organisations has seen an emphasis shift in recognising people as the prime competitive asset and the push of management to nurture social capital within organisations. This supposedly produces an environment of openness, trust, and free communication, thereby leading to greater knowledge sharing among organisational members. A well-managed knowledge management process helps to create and sustain knowledge capture, sharing, and creation of new knowledge. This paper traces the development of a knowledge management framework in an information technology environment of an international bank, focussing on the process, derivation, and implementation of the framework and presents the important lessons learnt along the way.