Identify knowledge management risks and manage them.

Consider the processes you can implement to expose your organisation to risks. Knowledge management processes have many sub-elements, each with its own level of risk. The key elements will involve identification, creation, capture, 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 needs to accommodate the revision of older accumulated knowledge and objects that need to be archived or destroyed.

Knowledge management activities are now increasingly focused on techniques. Innovative activities such as visioning exercises, process improvement, and research and development activities assist in creating new knowledge. 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 assets.

Risks occur when knowledge critical to an organisation’s performance is lost. This loss might be caused by a technological malfunction or a disaster striking the records holdings. It might also include the departure of long-term employees, extensive corporate memory hacking, or other criminal activity. Significant knowledge risks are arising in many organisations due to staff nearing retirement.

Is your knowledge effectively utilised?

First, you procrastinate, and 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. However, it may involve mentoring, staff retention, and developing informal communities of interest in particular topics.

Maintaining a balance 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 your 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 daily goodies”. Peter Sergeant