Measuring the ROI of Knowledge Management 2nd edition

For organisations looking at Knowledge Management, it is no longer a question of ‘should we?’ It is now, a question of ‘how should we?’ As the global market becomes increasingly more competitive, and budgets get tighter, many organisations are treading very carefully with their investments. With knowledge resources being intangible at best, it is increasingly difficult to justify any investment in KM.

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Details

  • Publication date: December, 2016
  • Pages: 90
  • ISBN: 9781783582686

Description

KM has been accepted as an integral practice for most organizations – however many are still, understandably, cautious of the investments they make in the current financial environment following the economic downturn.

‘The measurement of knowledge value is difficult. It is specific to time, context, and the perception of what it is that constitutes a knowledge asset.’ - David Griffiths

Measuring the ROI of Knowledge Management 2nd edition aims to explore how leading industry experts prove the value of their KM initiatives and justify investing in them. From outlining the best methods of quantifying the return from KM, to discussing the limitations of an ROI-focused approach, this book looks to present an all-encompassing view of how to best tackle this this matter that is rife with guesswork and uncertainty.

Measuring the ROI of Knowledge Management covers topics including:

+ Understanding the knowledge economy

+ Knowledge management business case arguments

+ Using a Knowledge Audit as the basis for determining and driving the ROI of Knowledge Management

+ The application of Artificial Intelligence to support the value of organizational knowledge and assist the knowledge ROI

+ Measurement of KM projects – A practical guide for busy people

+ Believing in organizational progress using data and anecdotes (C6)

+ The case against ROI for knowledge management

+ Winning the war by avoiding the battles – Focusing on the I in ROI

+ An ecological approach to understanding impact in knowledge management practice

Measuring the ROI of Knowledge Management brings together the sought-after advice of a wide variety of experts including Stan Garfield, Andrew Gent, David Griffiths, James Gunn, Tim Hawley, John Hovell, James Loft, Hélène Russell, and Professor Dave Snowden who provide tools, tips, pragmatic guidance and best courses of action for any organization looking to prove the value of their KM efforts.

Contents

Executive summary

About the authors

Chapter 1: Understanding the knowledge economy

- Economic value drivers

- Develop a competitive advantage

- Measuring the value of knowledge

Chapter 2: Knowledge management business case arguments

- KM – It’s the law/in the contract

- Creating new markets

- Creating a unique capability

- Creating strategic advantage

- Improving process productivity/incremental improvement 11

- Lessons learned programmes 13

- Encouraging knowledge sharing 14

- KM in support departments 15

Chapter 3: Using a Knowledge Audit as the basis for determining and driving the ROI of Knowledge Management

- An introduction to using a Knowledge Audit

- Designing the knowledge audit

- K-Audit questions

- K-Audit analysis

- Determining the business benefits

Chapter 4: The application of Artificial Intelligence to support the value of organisational knowledge and assist the knowledge ROI

- The current marketplace

- Benefit themes

- Decision making

- The importance of design

- AI and business cases

- AI adding extra value to knowledge 

- Summary

Chapter 5: Measurement of KM projects – A practical guide for busy people

- The value and difficulty of measuring

- Where to start with KM measurement

- Who: Understanding the audience for the measurement

- How: Deciding on the practicalities of measurement 

- Summary

Chapter 6: Believing in organisational progress using data and anecdotes

- Social return on investment

- Expanding the ROI approach 

- Conclusion

Chapter 7: The case against ROI for knowledge management 

- The right focus 

- Literature review 

Chapter 8: Winning the war by avoiding the battles – Focusing on the I in ROI

- Embedded KM

- Design to zero

- Reuse what exists

- DIY KM

- Summary

Chapter 9: An ecological approach to understanding impact in knowledge management practice

- Key scientific insights

- New ways of thinking and acting

- Conclusion

Download chapters

Authors

Dave Snowden
Founder and chief scientific officer, Cognitive Edge
Stan Garfield
Knowledge Management Author, Speaker, and Community Leader
James Gunn
KM consultant at Tacit Connexions
Tim Hawley
Associate director, Arup
Hélène Russell
Hélène Russell of TheKnowledgeBusiness specialises in helping law firms to grow and improve profitability, by understanding and improving their knowledge systems through training, advice and implementation help. Hélène is the author of the Law Society’s “Knowledge Management Handbook”, published in 2012, and founder of Knowledge Network West, the knowledge-sharing and networking group for KM professionals in the West. Hélène has spoken extensively on KM for Ark, Butterworths, UWE, Bristol Law Society, Allice and at Knowledge Network West, and writes regularly for Managing Partner Magazine. After a decade as a solicitor with a major regional firm, 8 years in Knowledge Management and having recently obtained an MBA with distinction, she has a unique, deep understanding of how to help law firms.