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In this article we address the question of what kind of social engagements provide the proper project work context for tacit knowledge acquisition and sharing to take place. In pursuit of this objective two epistemological assumptions are presented, and the analytical tool for understanding the behaviour of project team members, the Holistic Concept of Man, is illustrated and discussed. Project as a context of tacit knowledge utilisation is discussed, and different factors and situations that affect acquisition and sharing of tacit knowledge in project work, are analysed. The results of the study suggest that the situations, where the members of a project team can interact face-to-face with each other, reinforces tacit knowledge sharing. Also used language, mutual trust and proximity are factors which affect the grade of tacit knowledge utilisation in project work.