Avoid Looming Management Risk

Knowledge Management (KM) is a common methodology for determining the impact of risk from foreseeable knowledge loss ensuing from the acts of an organization. KM is often discussed, but such discussions show a marked tendency to remain elusive and confused, making it difficult for an organization to develop a clear plan for its implementation. Business management is a typical knowledge dependent job that requires extensive expert knowledge of individual business processes. Up to the present, this kind of work has generally been supported by individual expert staff. However, as knowledgeable experts age, there is a looming risk that their knowledge of complex business processes will be lost when they retire.

Many business owners understand that, in order to ensure stable and predictable business operations, it is critical that they retain the expertise and knowledge of retiring staff members.  Such organizations need to adopt a comprehensive knowledge management approach that is focused on the appropriate capture, sharing, and transfer of expert knowledge in an integrated IT environment, however, questions arise about how to effectively implement KM systems into the organization.