Identify knowledge management risks and manage them.

Consider the processes you can implement that will open up your organisation to risks. There are many sub-elements to knowledge management processes, each with its levels of risk. The key elements will involve identification, creating, capturing, storage, sharing, revising and distribution. 

These elements need to include the development of technology tools for workgroups and communities of practice. In addition, effective knowledge management also needs to cater for the revision of older accumulated knowledge and objects that need to be archived or destroyed.

Knowledge management activities are now increasingly focused on techniques. Assist in creating new knowledge with innovative activities such as visioning exercises, process improvement and research and development activities. Many organisations have developed approaches to identify and assess the significant risks that could affect their functioning. Practical strategies should consider the organisational risks that could affect their knowledge asset.

Risks occur in the loss of knowledge that is critical to the performance of an organisation. Loss through technological malfunction, disaster striking records holdings. It might include the departure of long-term employees with extensive corporate memory and, of course, hacking and other criminal activity. Significant knowledge risks are arising in many organisations due to staff nearing retirement.

Is your knowledge effectively utilised?

First, you procrastinate, then you speed to keep up. In addition, knowledge management risks can occur when knowledge is not in the right hands. You may have the relevant information, but it may not reach the correct employees when needed and in the form they want. Dealing with adversity without access to practical information and knowledge is like herding cats.

Managing knowledge risks may not require the large-scale documentation of knowledge databases. But it may involve initiatives such as mentoring, staff retention and the development of informal communities of interest around particular topics.

Change your thoughts about the value of your practical information and knowledge

Getting the balance right between people, processes, content, and technology will help reduce risks and improve productivity. However, the nature of knowledge management requires a balanced view when building organisational capability and capacity.

Focusing on technology or content issues while limiting consideration of people and process issues may not be effective. On the other hand, cultural issues, if not addressed, may undermine technological solutions. Finding the appropriate balance depends on the gap between your purpose and the current status.

Quotable Quotes

“Link your practical information and knowledge to your purpose, vision, mission and objectives with a Knowledge Base and increase its value exponentially”. Peter Sergeant

 “A good knowledge system is like Santa Clause, delivering goodies every day”. Peter Sergeant

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