Knowledge Management (KM) has been identified as one of several enablers of the current Transformation effort in the Department of Defense. Several organizations within the DoD have started using KM and are now interested in identifying and, subsequently, measuring the benefits in order to gauge success. While many studies have been undertaken to identify the benefits of KM in the commercial sector, similar efforts to investigate the benefits in a DoD context are lacking. Using a Delphi study involving key DoD KM experts, this research aims to identify the major realized benefits associated with KM practice from a strictly DoD perspective.