Information system development (ISD) has long been treated as the process that system developers craft an artifact to support business operation based on their special expertise. However, a significant portion of projects still have failed because the developed outcome cannot fit users¡¦ needs or meet predefined project schedule. Given that ISD is a knowledge intensive process, a lack of sufficient knowledge has been identified as one critical risk which may harms the effectiveness of planning and control. By viewing ISD projects as a series of problem solving process in which ISD team members generate usable knowledge, based on available potential knowledge, to counter problem, this study aims at understanding how managers can adopt approaches to increase the availability of potential knowledge and build a team which can effectively transform available knowledge into usable form. Through incorporating those concepts into research design, this study proposed a model to examine the impacts of those proposed approaches. An empirical survey methodology was adopted to collect required data. PLS was then used to test the proposed research model. The results showed that problem solving competence can benefit project performance, and the organization practices, including member selection, training, knowledge management system and external resources, reduce the insufficient potential knowledge, and indicate the important moderating role of the knowledge transfer facilitators. The implications toward academic and practitioner are also provided.