Like many other domains formed by the intersection of business needs and information systems, knowledge management is frequently mischaracterized and misunderstood by business stakeholders. As you begin to explore implementing or improving knowledge management in your organization, you should keep the following list of myths and facts in mind.
Myth - Knowledge management is just about technology.
Fact - Knowledge management is about solving problems through clearly defined processes. Technology may play a role in enabling these processes. Anyone who says knowledge management is about technology probably is probably a technology vendor.
Myth - Knowledge management is expensive.
Fact - The cost of a knowledge management implementation depends primarily on its underlying solutions, but many knowledge management solutions like corporate storytelling, brainstorming and communities of practice are inexpensive, and projects can be rolled out incrementally, so there's no reason a knowledge management initiative has to break the bank.
Myth - Knowledge management requires a one-size-fits-all approach.
Fact - Knowledge is fundamentally context specific, so the right management will differ from one firm to the next. A knowledge management audit and assessment is the best way to identify the correct approach for an individual organization.
Myth - Knowledge management is only for large companies.
Fact - Knowledge management is appropriate for every company. The value of knowledge cannot be underestimated, regardless of firm size.
Myth - Knowledge management is the same thing as document management/content management/customer relationship management/enterprise search.
Fact - All of these technologies can certainly play a role in a successful knowledge management implementation, but anyone who tells you they are the same is probably just wants to sell you a specific offering. When considering a knowledge management project, starting with a specific technology or software package in mind is the surest way to guarantee project failure.
Myth - Knowledge management will require a significant amount of custom software development.
Fact - Many knowledge management processes can easily be implemented using a variety of existing proprietary and/or open source software packages. The level of automation and integration with existing systems desired by an organization will ultimately determine the correct technology approach and may necessitate some degree of custom development.
Myth - Knowledge management projects' success can't be measured quantitatively.
Fact - Knowledge management projects' success can be more difficult to measure using traditional return-on-investment (ROI) calculations than other types of projects, but it can be done. In addition to ROI, a large number of other quantitative metrics can be used to measure a knowledge management project's success. The correct choice of metrics depends on the organization's knowledge management goals.
Contact us to find out how you can put these facts into practice to achieve a cognitive advantage.