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3 Easy Steps to Creating a Knowledge Management Strategy

By  Jim Kane Jim Kane  on 2014-04-01 04:58:00  |  Featured in  Insurance , Information Management
Jim Kane
Posted By Jim Kane
in Insurance in Information Management
on 2014-04-01 04:58:00

Knowledge Management, as you may know, is a set of processes and methods focused on capturing, documenting, disseminating, identifying, leveraging, sharing, structuring and valuing an organization’s information assets. The goal of Knowledge Management (KM) is to capture individual and institutional knowledge, and to ensure that it is available and useful when authorized users implicitly or explicitly require that knowledge to operate, innovate and help the organization achieve its goals. Managing knowledge requires harnessing human resources and system behavior to make knowledge accessible and easily usable when needed. But what is Knowledge Management Strategy, often referred to as KM Strategy? How does an organization determine which strategies are right for its long-term and short-term goals? The following explanation should help make this clearer.

What is Knowledge Management Strategy

The goal of a Knowledge Management Strategy is to translate an organization’s Knowledge Management Vision into a defined set of actions and measurable goals. Basically, KM Strategy takes the ideas about what a company’s structure of knowledge assets should look like, and turns those ideas into reality. Translating KM Vision into a defined set of actions and measurable goals requires full comprehension of the organization’s business drivers, and cannot be accomplished until key decision-makers have developed the firm’s goals, objectives and vision. These same decision-makers must also have a clear understanding of their requirements from both a business and end-user perspective, and of the supporting process and technology components that their organization relies on. At the end of the day, KM Strategy is about defining a business case, developing a future state model, pinpointing the most important strategic recommendations from experts in the field and creating a roadmap for implementing all these processes.

Working with Strategic Experts

One of the most important steps to defining and developing a KM Strategy is choosing an experienced and dedicated consulting firm to achieve your Knowledge Management and Collaboration Vision. With this step out of the way, you are ready to develop an effective KM Strategy. Your team will need to design more than just a basic plan; you will need a systematic strategy. This strategy will need to take factors into account such as the latest technology tools and change management strategy, and will need to consider what has worked and what hasn’t worked for other companies in your industry. Strategic consultants can help your team understand the best practices, insights and tools to get you where you need to go.

3 Steps to Creating Knowledge Management Strategy

There are many steps in the development and implementation of a KM Strategy, which should be outlined in your Knowledge Management Roadmap. All these steps will need to be deployed with three key ideas in mind:

  1. Efficiency: It’s always better to have one scalable, replicable, efficient system to manage your knowledge assets, rather than a plethora of smaller tools for every process or project.
  2. Standardization: The larger your organization grows, the more standardization will be a major issue in your KM Strategy. Take an enterprise approach and prioritize a standardized connectivity and content creation system.
  3. Simplicity: This is perhaps the most important aspect of a KM Strategy. Since individual employees, teams, departments and offices will need to adopt this strategy, it’s essential that it is as simple as possible without sacrificing any key objectives. Get rid of any options or tools you don’t need, and focus on the core of the strategic transition.

With a clear set of goals, measurable milestones and a system to track progress, your KM Strategy is bound to come together over time. The first step is finding the right consultants to help achieve your organizational goals, and then you’re ready to develop a detailed business case and define the steps you’ll be taking to achieve your business objectives. With the appropriate resources and tools, and a management approach that considers the needs of all individuals and teams within the organization, your efforts are bound to pay off.

Jim Kane

Jim Kane

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Jim Kane is the Director of Collaboration and Knowledge Management (KM) at Paragon Solutions. Jim leads the KM practice with a focus on knowledge management and SharePoint-based solutions that support day-to-day business optimization via virtual problem solving, communities of practice, knowledge repositories, role-based communication portals, partner collaboration, and information dashboards. He is co-author of a patent, “Methods of Knowledge Management,” and has over 15 years of experience teaching at the college level as an adjunct instructor. Jim has presented at numerous regional and national conferences on the topics of Knowledge Communities, Adoption Strategies for SharePoint, and Global SharePoint deployments.

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