What Is Knowledge Management?
Wherever we go, all around the world, knowledge is used as a commodity. It is the main element of our existence, bargaining power in everyday life’s situations, and pushing factor in improving ourselves and our surrounding environment. But knowledge is a special commodity when it comes to work – managing a group of people or projects in particular. And here knowledge management plays an important role. So what is knowledge management and how is it used? The old but gold Wikipedia says that:
“Knowledge management (KM) is the process of creating, sharing, using and managing the knowledge and information of an organization. It refers to a multidisciplinary approach to achieving organizational objectives by making the best use of knowledge.”
But it’s more than that. A good knowledge management is a sophisticated process which needs attention and well understanding of how it all works.
Why Use Knowledge Management?
In every company or business, either small or big, there is a certain knowledge flow. It is a transmission of information between different departments, co-workers, etc. That transmission happens naturally, often subconsciously, and by that process, every element in the business works properly.
But in order to make this process smooth and effective, it is important to provide proper oversight of these aspects which can be controlled. Here’s where knowledge management is essential. It helps in such aspects of business as:
- managing tasks and projects;
- different departments’ co-operation;
- communication in a company;
- an interaction between the company, it’s employees and customers.
Thus, it is worth to invest in good knowledge management as it improves company’s results and enhances employees’ productivity.
How Does It Work?
But how does it work? How is it possible to manage knowledge? It is easier than it seems. Knowledge management is an active process. And it does not only requires information but also people. And here’s how it goes:
by using employees’ knowledge:
gathering → managing → sharing
Since it is a discipline which regards operating information flowing between institutions, organizations, and people, it needs openess and trust. Thus, in order to manage knowledge in the right way, people need to have access to the right information at the right time. For this reason, managers, employees, and customers should have a space to gather together, share knowledge, and guide each other in order to achieve the best results. By these means, knowledge management allows for using the best potential of the company.
Along these lines, managing knowledge at a company, especially by project managers at their teams, can be of a great value for the project, product, and even entire company. It not only boosts productivity but makes work easier.