INGAA FOUNDATION A Practical Approach to Managing Knowledge Risk

Transcription

1 INGAA FOUNDATION A Practical Approach to Managing Knowledge Risk April 12,

2 2 What is Knowledge Management?

3 Defining Knowledge Management A range of practices used to preserve, create, and leverage the intellectual capital (explicit and tacit knowledge) in an organization. Explicit Knowledge: Formal codified knowledge documented in reports, papers, specifications, patents, formulas, books, and other forms of documentation. Tacit Knowledge: Informal non-codified knowledge that resides in people s heads that can be difficult to capture and transfer. A systematic process of connecting people to other people, knowledge, and information needed to effectively act and create new knowledge. 3

4 Knowledge Management Goals Improve business performance Recognize when you make a mistake and never repeat it Reduce risk Make decisions at all levels with awareness of the full knowledge base of the organization Develop and engage workforce Shorten the learning curve Increase competency Leverage best practices Make all successes repeatable and sustainable Never reinvent the wheel or duplicate an effort Reuse and repurpose knowledge 4

5 Knowledge Management Lifecycle Capture, Store, and Retrieve Knowledge Assets Administer Knowledge Management Share and Utilize Knowledge Assets Create and Innovate New Knowledge Assets Knowledge Transfer 5

6 Capture, Store, and Retrieve Knowledge Assets The overall goal is to make knowledge readily accessible to those who need it and to ensure that the organization and not individuals own the knowledge. Knowledge assets become valuable to the organization when they can be accessed and utilized. Processes need to be in place to identify critical knowledge, capture and store it, and then be able to retrieve it for use when needed. 6

7 Share and Utilize Knowledge Assets Knowledge needs to be shared within the organization and, where appropriate, with other organizations. The goal is to disseminate the knowledge and make it useful to those who need it. Typical knowledge sharing opportunities include: Acquiring knowledge Finding opportunities to copy and adapt best practices Developing expertise Utilizing collective knowledge to improve 7

8 Knowledge Transfer Knowledge transfer is the process that involves: Identifying the knowledge and skills required for a given purpose Transferring the knowledge from one entity to another Ensuring the transferred knowledge results in improved capability and performance The transfer of concepts, practices, routines, information, and theories are best accomplished with explicit transfer methods. Skill development requires various transfer methods. 8

9 Create and Innovate New Knowledge Assets The identification of knowledge creation initiatives should occur as part of the Knowledge Management strategy (tied to the strategic plan). Identify and establish initiatives that support the organization in meeting its strategic objectives and goals. 9

10 Administer Knowledge Management An infrastructure must be developed to support the success of Knowledge Management from its launch and into the future. Governance for Knowledge Management occurs at two levels: Centralized Decentralized Knowledge management leadership should exist at all organizational levels. A high level executive or manager should be assigned the responsibility for the organization s Knowledge Management activities. 10

11 11 The State of Knowledge Management

12 12 "If only HP knew what it knows it would make three times more profit tomorrow. - Lew Platt, ex-ceo Hewlett Packard

13 13 Up a Creek without a Paddle or

14 Current Situation Knowledge Management as a program is static in many companies Much/most expert knowledge is contained inside individuals people have the knowledge, organizations do not Knowledge is not viewed as an asset or competitive advantage At most companies: Training = Knowledge Management Not my problem = Lack of consistency in assigning responsibility for Knowledge Management The workforce is aging resulting in skill and knowledge attrition that is quickly reaching a critical state Organizations have not tied the management of knowledge to controlling risks or strategic planning 14

15 15 Best Practices in Knowledge Management

16 Best Practices Capture, Store, and Retrieve Knowledge Assets Documentation exists. Corporate knowledge is often a matter of knowing who to go to in order to find information rather than having an organized repository. Some processes have been documented and sometimes have best practices associated with them. Process design and documentation are considered valuable for control of organizational activities. Limited number of key processes have been documented. Gathering and mapping of documentation location and content is in process. Knowledge documentation is not considered critical. Capturing knowledge is considered important to the success of the organization. An organized repository has been designed and knowledge assets are being moved/stored correctly. High percentage of the organization s processes have been documented or are in the process of being documented. Pilot projects are identified for knowledge capture where tacit knowledge can be captured and stored as explicit. Knowledge capture is integrated into every project and is considered an integral process. Process design and documentation are considered necessary for control of organizational activities. All key processes have been documented with a clear definition of process scope, owner, and accountabilities. Regular audits and updates of knowledge assets occur. 16

17 Best Practices Share and Utilize Knowledge Assets Knowledge may be hoarded, or at best, exists in silos. Knowledge sharing is viewed with suspicion. Knowledge sharing is considered to be important. Vertical and horizontal communication patterns are established. Partnerships are established on pilot project teams. Mentoring programs are put in place on a project by project basis. Knowledge sharing is extended from individual projects and departments to crossfunctional and crossdepartmental teams. Capture of lessons learned begins. Every project shares lessons learned, with best practices identified. Technology is integrated to provide just-in-time sharing of both explicit and remote tacit knowledge sources. Communication flows freely and knowledge is easily accessible. 17

18 Best Practices Transfer Knowledge Training and learning may exist, but may not be relevant to job competencies or critical business processes. Training is perceived as an add-on rather than integral, and the supporting infrastructure is minimal. Knowledge transfer is considered important. Training is designed to be relevant to tasks and is developed for documented processes. Subject Matter Experts (SME) are identified and utilized in development and delivery. To support transfer, benchmarks are developed for processes against which learning can be measured. Project performance is captured. Training moves to just-in-time and becomes relevant to the project and individual. Job performance and bonuses are tied to learning for both self and team. Knowledge is available from multiple sources including intranet, social media, podcasts, webcasts, as well as traditional methods of learning. Communities of practice are established for the purpose of mentoring and transferring knowledge. 18

19 Best Practices Create and Innovate New Knowledge Assets Knowledge at the organizational level exists. Innovation occurs in silos. Tasks and processes are Always done this way. As processes are developed, individuals and teams seek improvement. Along with process improvement, product innovation is introduced and encouraged. Knowledge success is communicated to the company, encouraging healthy competition as well as collaboration. Customer feedback and input is sought. Creativity and innovation are perceived as key drivers of economic growth and success. Lessons learned from projects are incorporated as the new baseline, and process improvement is integral to the culture. Performance bonuses are tied to creativity and innovation. Customer input is utilized to forecast and create more efficient/new products. The culture understands that the renewal of knowledge is critical. 19

20 Best Practices Administer Knowledge Management Knowledge assets are fragmented and disseminated throughout organization. Data is disorganized. Knowledge administrators are designated and begin gathering the collective processes and knowledge assets from throughout the organization. The search for complimentary technological solutions begins. A centralized documentation and Knowledge Management system is implemented. Learning is tracked. Performance metrics are introduced. Processes, procedures, and training are centralized and available. Information is funneled through the administrators, filtered, and appropriately distributed. Employees contribute to the knowledge asset base seamlessly. Information is repurposed and distributed in multiple media. Knowledge infrastructure looks like an intranet and is easy to navigate. 20

21 21 Implementing Knowledge Management

22 Path Forward Build a Roadmap Set Strategic Priorities Assign Dedicated Resources Build a Performance Management System Recognize Importance 22

23 Practical Steps Identify pilot projects to capture knowledge Identify Knowledge gaps Determine knowledge to be captured PRACTICAL STEPS Tie compensation to Knowledge Management Develop an overall Knowledge Management strategy Capture Knowledge and Build Learning Transfer/share knowledge Repeat/Build best practices 23

24 Contact Information 1221 East Dyer Road, Suite 200 Santa Ana, CA Office: (714) Fax: (714)