In Malaysia, there has been an argument that the Knowledge Management (KM) practice especially in construction industry has not been commensurable with its status as a developing country. Hence, an initiative that aims to appraise the KM practice amongst consultant firms working in industry of construction in Malaysia becomes the focal point of this study. This aim is achieved by fulfilling its objectives of delving into the understanding of consultant firms on KM practices and exploring the critical success factors (CSFs) of KM implementation in Malaysia. In this paper, the data is studied on a number of statistical analysis tools, namely descriptive analysis, reliability analysis and relative important index (RII). The results obtained from the questionnaire survey clearly showed that most respondents made a claim that KM enhances the decision making in the organization and KM spurs innovations. Few respondents disagreed with the components of KM practices, indicating that these respondents may not be well aware of the importance of KM. About the top ranking of CSFs for KM practices implementation, it is found that “continuous organization support”, “leadership demonstration by senior staff/management”, “knowledge and sharing culture”, “execution of plan”, and “continuous learning” make the top five factors very vital to the effective execution of KM by the consultant firms in the construction industry.