Knowledge Management Strategy Services
We Built trust through Results
There
are many reasons why your organization would begin a KM Program. Sometimes the
impetus is demographics: A lot of senior experts are about to retire, and the
organization wants a way to document their know-how and experience, or a bunch
of new people get hired and KM is seen as a way to get them up to speed more
quickly. Other organizations turn to KM in response to change or crisis. A
merger, acquisition, or restructuring can make an organization recognize the
need to break down siloes between groups and improve cross-boundary knowledge
sharing and collaboration. Knowledge management is very much a change process,
and the first step in the change is to assess the current state - to see what
is already being done, what works well, where the barriers and gaps are, and
where the strengths are
Through this assessment, we help you uncover
opportunities to improve:
•
How your KM effort is
managed and positioned,
•
The level and type of
resources allocated to KM and if they are adequate,
•
The efficiency and
effectiveness of KM activities, and
•
Current and anticipated
future outcomes.
Undertaking
this strategic step will help you with a thorough understanding of your current
strengths, gaps, and opportunities for intervention in order to introduce a
fully operative Knowledge Management Framework. Our KM Assessment methods
provides the basis for a clear road map guiding your organization in the
initial steps of implementing Knowledge Management so has to ensure you have
all required success factors in place.
Each
benchmarking assessment offers an Excel-based data collection tool consisting
of the survey itself, the measures associated with the survey, the glossary
terms needed to understand the survey, and a copy of the Process Classification
Framework (PCF) relevant to the data collection instrument. The consolidated
data collection tool is intended to simplify the collection of benchmarking
data within your organization. Through this series of insight collection
methods including in-depth interviews, we map the current state of knowledge
utilization and application in your organization against the proven components
of functional Knowledge Management. The responses to the data collection
methods are noted in detail and brought together to look for common themes,
issues, and concerns. Key quotes are also identified to support and illustrate
the main conclusions reached. The responses, and acquired metrics, provide a
picture of the Knowledge Management strengths and weaknesses of the
organization which can be benchmarked against Knowledge Management competencies
in other organisations.
The KM Assessment will
provide a baseline for your Knowledge Management Implementation and identify
the missing elements that need to be filled to create an effective Knowledge
Management Framework.
Every
successful knowledge management program starts with a clear, focused strategy
directed at issues of strategic importance to the business. A good Knowledge
Management strategy is vital to the success of any knowledge management program
and should be one of the early steps in your KM Roadmap. We exist to provide
guidance and help you build a Knowledge Management strategy, to your
organization KM processes, help you measure and realign your existing strategy
over time to ensure your KM continues to provide value.
Implementing
Knowledge Management should be done in the context of an agreed strategy. The strategy
ensures that the Knowledge Management implementation proceeds in a way that is
aligned with the current business approaches, is targeted on the right
problems, and is coordinated with other existing change initiatives.
Developing a clear and effective KM strategy
allows you to
•
Increase internal
awareness and understanding of knowledge management.
•
Make a strong business
case for potential benefits to your organization.
•
Get buy-in from senior
management.
•
Obtain resources to
implement your strategy.
•
Clearly communicate good
knowledge management practices and your current organizational KM status,
goals, and plans for achieving those goals.
•
Track your progress
At
ForumIS We know when, how, and where to deliver the knowledge your organization
needs, and we know this because of the all-important Strategic benchmarking
exercise that is conducted before your KM Strategy Exercise Your identified
network of your organization’s collective intelligence will hereby launch this
important step of creating a lasting knowledge management strategy for your
Organization. We conduct this exercise strictly with you either in a two to
three-day workshop, where we work with your Knowledge Management team and other
key stakeholders to address the key strategic elements of Knowledge Management
implementation, or through a series of strategic interviews with your senior
managers done either in person but mostly virtually using Zoom and MS Teams
(This requires high dedication as your availability cannot be compromised)
The
recommended workshop will ideally be informed by the results of a Knowledge
Management Assessment and Benchmarking exercise, and by input from management
on current business strategies and other parallel initiatives. Once the KM
strategy document is Completed, it is presented to, and discussed with,
relevant Stakeholders such as senior management, before sign-off.
The document will cover
elements such as
•
Vision
•
Scope
•
Business drivers
•
Value proposition
•
Critical knowledge areas
Communicating
easy-to-understand actions that people in the organization will need to take to
achieve your KM objectives helps everyone understand what needs to be done, by
whom, and what benefits are in it for them. Therefore it will:
•
Contribute to overall
organizational goals
•
Balance people,
processes, and technology
•
Build timely
organizational capabilities
•
Use common processes and
technology to encourage collaboration
•
Transform the perception
of KM by creating tangible results
KM Policy comes way later in the KM
initiative. It is Informed by A KM Audit and A KM Framework Which are
Resultants of A KM Benchmark Exercise
A
functional KM Policy seeks to maximize the value and impact of Knowledge in the
Organization by guiding the organization in capturing, creating, sharing
and managing knowledge. KM
comprises of three components
·
People who create,
share, and use knowledge as part of their daily work and help shape a knowledge
sharing organizational culture
·
Processes which include
methods to acquire, create, organize, share, and transfer knowledge to fit
different situations and
·
The technology including
the mechanisms to store and provide access to data, information, and knowledge
that must be integrated with the way people work, and address their real needs
A good
Knowledge Management policy will enable and synergize these three components to
be embedded within the structure and culture of the organisation, A good KM
Policy will also be an objective guide in the later stages of your KM program
with clear administrative procedures that address how KM is managed in the
organization. This KM Policy needs to be highly normalized, and set at the
right level and should to be just sufficient to deliver the required KM value,
without loading too much process onto the business. Need to be successful at
this from the get go? engage ForumIS Specialists to guide and help you craft a
Knowledge Management Policy document tailored to your organisational
requirements.
The Knowledge Management Policy
acts as a set of operational standards for Knowledge Management within your
organisation. It so designed to ensure that everyone knows what is expected of
them in terms of Knowledge Management practices and processes, and why this is
important to the organisation.
The overall purpose of this
Policy is to establish guidelines for the dissemination and sharing of the
organization's existing knowledge and promote continuous learning and cultural
exchange, it is especially designed to enhance operational efficiency through
the proper use of intellectual capital and encourage initiatives, procedures
and tools that allow for the actual and effective use of this intellectual
capital, always furthering the interests of the organization without prejudice
to specific policies that may be established or be in existence in the
organization.
How we help you develop a Knowledge Management
Policy
The Knowledge Management policy
is developed either in a workshop where we work with your Knowledge Management
team including your policy experts for standard alignment and other key
stakeholders to address the policy elements, or through a series of strategic
interviews with your senior managers done over various media.
The recommended workshop will
ideally be informed by the results of a Knowledge Management Assessment and
Benchmarking exercise, and by pilot testing of a Knowledge Management
Framework. The policy document is presented to, and discussed with, senior
management, before sign-off.
The policy document will cover elements such as
·
Business policy statement for KM
·
Accountabilities
·
Required behaviours
·
Required processes
·
Applicability
·
in sync with other organizational policies
The overall benefit of a
good KM Policy is a along with an assured right path include a guided ability
to
·
Collaborate and build
collective knowledge.
·
Find better ways of
doing things.
·
Build a community and
learning culture.
·
Create better customer
experiences.
·
Retain knowledge.
·
Connect remote employees
to knowledge.
·
and the obvious
feel-good factor.
In this volatile, uncertain and
hyperconnected digital world, vital organizational knowledge is at risk of loss
(through, retirements, redundancies, career progression, etc.). Once business
critical knowledge is lost, it may be expensive, impractical or impossible to regain.
The risk posed by an ageing workforce is a huge issue for many Organizations.
As experienced staff retire, so critical knowledge will leave with them, which
can leave the company highly exposed unless that knowledge can be retained and
transferred to more junior, less experienced staff. A Knowledge Retention and
Transfer (KRT) Strategy is an approach to reducing this risk.
Through our experienced
Practitioners we have helped many organizations to develop Knowledge Retention
& Transfer Handbook (KRTH) which focuses on reducing the risk of
organizational brain drain through eliciting, protecting, transferring and
socializing business critical tacit knowledge. The KRTH is a practical guide,
with case studies drawn from a variety of industries and markets. These case
studies present methods to identify at-risk knowledge, tools to elicit and
capture knowledge, and processes to socialize and protect knowledge.
A KRT Strategy is a strategic
approach to the risk of the loss of critical knowledge, and highlights priority
areas and topics for knowledge retention activity. In a small company, a
knowledge retention strategy can focus on the individuals themselves, while in
a larger organisation it may make sense to prioritise the knowledge topics. The
knowledge retention strategy then looks at the necessary interventions to
address the risk.
The Knowledge Retention Strategy
is developed through conversations with senior managers, middle managers and
HR, and through the scanning and mapping the priority topics. Strategic
responses to these issues are then determined, which may include some or all of
the following.
·
Reducing the urgency through hiring, or through
extending employment contracts
· Knowledge Transfer to other staff, through the
development of Communities of Practice, through documentation of processes, and
through mentoring and coaching Knowledge Capture.
· There needs to be owners in place for the
captured knowledge, which should feed through into training programs and into
the communities of practice
The Knowledge Retention Strategy
will be under pinned and supported by the development of Knowledge capture and
documentation skills within the organisation. Implementing a retention program
requires an investment in training, and requires dedicating time to the
knowledge retention process itself
Where knowledge loss represents a significant
risk to an organisation, then a Knowledge Retention Strategy and program
represents the management of change necessary to reduce that risk to an
acceptable level.
Creating a Knowledge Management Framework
Knowledge management is one of the most critical elements of any
organization. Without effectively documenting, sharing, and retaining the
knowledge within your business, it’s nearly impossible to create a positive and
productive culture, hold onto top talent, and deliver a top-quality experience
to your customers. But how can you gather, publish, and disseminate all the
knowledge circulating within your organization’s various departments and teams?
Where do you even begin?
It all starts with a knowledge management framework. We help you through
the fundamentals of this framework so you can begin creating your own knowledge
management processes or optimize existing methods to better support your
organization.
A knowledge management framework typically includes four key components:
People. Process. Content and Strategy. Properly considering each of these will
help you in the following way
·
People: Putting the Right Players in the Right Places
·
Process: Optimizing the Flow of Information
·
Content: Documenting Your Knowledge
·
Strategy: Bringing It All Together
A Knowledge Management Framework
ensures that all necessary KM elements (Accountabilities, Processes,
Technologies and Governance) are in place, and interconnected. This ensures
that there are no gaps in the system, and that knowledge flows freely through the
organisation.
When building a Knowledge Management
Framework, we have to make sure that we cover all of the components - all of the
interlinked items - which need to be in place for knowledge management to work.
We build the framework as a matrix, using a well-established knowledge
management model for each axis of the matrix.
The current state of
the Knowledge Management Framework elements is mapped during the Knowledge
Management Assessment, based on information we collect through assessment
interviews from key players in your organization, We recommend the most
appropriate Knowledge Management Framework elements for your organisation. The
Framework is presented in a report, together with role descriptions, process
descriptions and technology functionality, where appropriate.
The elements of the
Knowledge Management Framework need to not only work together, but also work
with the existing systems, structures, infrastructures, and technologies within
the company. A working KM Framework Must be tailored to your Organizational
operations.
A knowledge management framework provides you with a step-by-step
process for wrangling all the information that currently exists across
disparate systems and helps fill the knowledge gaps that cause problems for
your workforce.
A strong KM framework is vital for the success of Knowledge Management
as follows
·
With no accountabilities, it is nobody's job.
·
With no processes, nobody knows how.
·
With no technology, nobody has the tools.
·
With no governance, nobody sees the point.
A knowledge valuation process
involves quantifying the value of knowledge assets, reuse, and innovation so
they can be fully appreciated by the organization. Assigning a value to your
organization’s intellectual assets can help realize incremental revenue from
sales to customers, support investments in knowledge creation and capture, and
justify investments in your knowledge management program.
We will help you work through a
valuation calculation based on your historical and current performance data to
develop a business case, and (if possible) an order-of-magnitude ROI.
Intellectual Capital is the sum of
everything everybody in a company knows that gives it a competitive edge. A
metric for the value of intellectual capital is the amount by which the
enterprise value of a firm exceeds the value of its tangible (physical and
financial) assets.
As early as you can in your
Knowledge Management activity, form a reliable and justified estimate the scale
of the prize. If you understand the scale of that prize, you know how much you
can invest to deliver it, and you are better placed to meet challenges to that
investment
In order make some sort of estimate
of the return knowledge management will deliver, we will need to decide which
business metrics knowledge management will impact, and by how much. Value will
come through increasing the volume of your business by increasing market share,
or by entering new markets, or through increasing margin by reducing costs (and
costs can be reduced in a number of ways) or by increasing price. An
understanding of how knowledge management will impact these variables, plus
reliable historic performance data, allows you to value your knowledge
management program.
Historical benchmark statistics are
used to identify potential areas of improvement, which are offset against the
predicted costs of Knowledge Management implementation.
A good understanding of the value of knowledge management, expressed as
a business case or ROI, allows you to make a realistic case for investment.
How is knowledge management governance different
from knowledge management strategy?
Knowledge management strategy should guide your
governance structure. Generally, strategy covers the following subjects:
· Who will be reading the knowledge in the KB?
· What kind of knowledge do the users need?
· Who will be providing the knowledge?
· Where and when will the users need to access
knowledge?
Governance, on the other hand, covers ongoing
best practices and their continual refinement, including:
· Formalizing or refining knowledge content creation
and maintenance guidelines (and making them easily accessible)
· Advocating for correct usage of your knowledge base
· Looking out for repeats of old problems and solving
for new ones
Therefore, A knowledge
management (KM) strategy is a specific plan to help your organization manage
information, data, and knowledge for the benefit of your organization and any
stakeholders. Successful KM strategies align with your overarching
organizational strategy and objectives and keep your KM team focused on your
business priorities and needs.
The Importance of
developing a Knowledge management governance system is to ensure that KM is
fully embedded as an expected, owned, measured and rewarded component of
business operations. Organizations that are successful in KM implementation are
very often those that have a clear KM Governance System
With strict input from Senior
Management, We will work with your KM Steering Committee and provide guidance to
develop a set of governance systems and processes that will be part of your
Knowledge Management Framework. These Governance Systems and processes will
include;
·
A set of clear expectations,
expressed as a Knowledge Management Policy
·
Clear accountabilities
for all elements of Knowledge Management
·
A set of Knowledge
Management metrics (including value metrics, application metrics and activity
metrics), and a reporting structure
·
A performance management
system for KM, linked into the existing performance management structure.
The benefits of having a
Strong Knowledge management governance are realized through the long-term
sustainability and resilience of your knowledge management program. Without a governance
system, KM remains an "optional extra, easily resisted with no impact to innovation and culture" something employees will easily
ignore.