This paper presents an approach aimed at creating business ontologies for knowledge codification in company. It is based on the principles of ontological engineering and cognitive psychology. Ontologies that describe the main concepts of knowledge are used both for knowledge creation and codification. The proposed framework is targeted at the development of methodologies that can scaffold the process of knowledge structuring and orchestrating for better understanding and knowledge sharing. The orchestrating procedure is the kernel of ontology development. The main stress is put on using visual techniques of mind mapping. Cognitive bias and some results of Gestalt psychology are highlighted as a general guideline. The ideas of balance, clarity, and beauty are applied to the ontology orchestrating procedures. The examples are taken mainly from the project management practice. The paper contributes to managerial practice by describing the practical recommendations for effective knowledge management based on onto