Knowledge Management can be defined as a systematic process that creates, captures, shares, and analyzes knowledge in ways that directly improve performance. The goal of Knowledge Management is to improve the creation, dissemination, and exploitation of knowledge for the purpose of building competitive advantage. The proper use of knowledge management allows an organization to operate smoothly and efficiently. This article discusses knowledge management in the context of teacher education, and provides an activity analysis that serves as a knowledge audit prior to implementing a Knowledge Management strategy. The knowledge learned from the best practices used in the best classrooms can provide formative data to help teacher-training colleges be more efficient and effective in the teaching of educators.