The invention provides a knowledge management system particularly suited for use in the integrated circuit design environment. The system allows administrators to define standardized component types. Instantiated components versions comprise "deliverables" and "attributes." Deliverables comprise a file or directory of files or groups of files or directories that perform a common function and are characterized by the system in a standardized manner. Attributes comprise metadata describe the component version. By the abstraction of design files into deliverables, the systems can work with design files originating from any source and having different structures and still make those design files available by other designers in a uniform manner for efficient reuse of pre-qualified components. Tasks in the design flow can be tracked in the system. The system may also include a communications application, an issue tracking application, and an audit trail application.