The purpose of this article is to create a virtual knowledge space, K-SPACE (Knowledge Space), that enables communication and knowledge sharing between a business level and a plant level for mutual decision-making. Another purpose of a virtual knowledge space is to enable successful collaboration that ensures better quality while reducing costs and time by checking the task progress of departments participating in new product development (NPD) under the concurrent engineering (CE) paradigm. The Croquet software development kit is utilized to develop the knowledge space, which is a small-talk based, object-oriented language. The use of K-SPACE at enterprises that adapt the CE philosophy for NPD processes is expected to reduce both time and cost through fast, accurate, efficient, and collaborative decision making for various conflicting issues.