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Top 3 Key Success Factors for a Comprehensive Knowledge Management Strategy

/wp-content/uploads/2012/12/knowledge_165715.jpgWhen companies think about developing a company-wide knowledge management (KM) strategy, they are most often confronted with the following questions about where to start, what are the goals, and which knowledge needs to be managed.

Obviously, most of a company’s knowledge and information is stored on file servers, internal employee portals or still staying within individual’s email inboxes etc. When getting started with your KM strategy and approach you should have the following 3 key success factors in mind:

  • Define your strategy: before starting to invest into tools managing your KM, you should first define a comprehensive strategy about your future KM infrastructure. You should be clear about your business needs and business objectives. How can KM support your business in order to gain competitive advantage. With that in mind, you will be able to define a consistent platform for knowledge and information that is on the one hand side relevant as well as consistent.
  • Structure your information and knowledge: Once you have defined your strategy, think about how to structure your information and knowledge. What are the key contributors? Which information should be stored? Which information is relevant to which target group? Building up a KM infrastructure means, being relevant to your respective target groups, e.g. sale, marketing, development etc. When considering specific requirement in terms of what is needed, how to structure and how to find knowledge you will succeed in your efforts and investments.
  • Keep your knowledge up-to-date: Most KM infrastructures today suffering from being outdated. Old information is stored and no governance model is making sure to only have latest knowledge available. Therefore, most importantly, you need to make sure that implementing a governance model ensuring accurate, up-to-date and relevant data is in place.

At the end, consider measuring your business impact. Defining KPIs are important in order to justifying investments and man-power. Consider KPIs that are not only measuring consumption or click rates. Collect feedback from your stakeholders and ask them directly how it impacted their way of working and collaborating with the rest of the organization. Take these learnings and feedback in order to adjust your infrastructure.

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