The aims were firstly to identify major problems within a calculation and analysis SME and then to determine the adequate Knowledge Management Strategy. A participant observation was performed for a tem month period within an engineering analysis SME, making a census of usual and unusual problems met by engineers during their daily activities. A keyword characterization grid for engineer's problems was performed. Through census prioritization and anecdote characterization three families of problems were identified: perpetual training, electronic-paper-document-mail classification and engineering activities support. The results justify a Knowledge Management implementation, highlight the importance of the turnover factor, and lead to recommending a codification strategy.