Prioritizing Investments in Knowledge Management

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What can be measured is not necessarily important and what is important cannot always be measured. Eight approaches can help prioritize investments in knowledge management.

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Prioritizing Investments in Knowledge Management

  1. 1. The views expressed in this presentation are the views of the author/s and do not necessarily reflect the views or policies of the Asian Development Bank, or its Board of Governors, or the governments they represent. ADB does not guarantee the accuracy of the data included in this presentation and accepts no responsibility for any consequence of their use. The countries listed in this presentation do not imply any view on ADB's part as to sovereignty or independent status or necessarily conform to ADB's terminology. Prioritizing Investments in Knowledge Management Olivier Serrat 2013
  2. 2. The Limitations of Traditional Metrics What can be measured is not necessarily important, and what is important cannot always be measured. • The difficulty in demonstrating direct linkages between investments in knowledge management and organizational performance. • The miscellany of possible knowledge management initiatives, which calls for both quantitative and qualitative approaches. It is not easy to prioritize return on investments in knowledge management. This may owe to:
  3. 3. Common Traps When prioritizing investments in knowledge management, common traps lie waiting: Delaying rewards for quick wins. Using too many metrics. Implementing metrics that are hard to control. Focusing on metrics that tear people away from business goals.
  4. 4. A Purposeful Medley of Insights Approaches that can help pick investments in knowledge management relate to: • A time management approach to full agendas that focuses on importance and urgency. • Generic features of knowledge management initiatives. • Ways to map knowledge management initiatives by knowledge agent, form of knowledge, and core knowledge activity. • Generic concerns that sustain innovative organizations. • Five areas of value creation in knowledge products and services. • Ways to locate knowledge management initiatives in an options space. • A multi-staged review process to underpin knowledge product and service development. • An approach to strategic management that balances the financial perspective against others.
  5. 5. Eisenhower Matrix Source: Stephen Covey. 1989. The Seven Habits of Highly Effective People: Restoring the Character Ethic. Simon and Schuster. Quick fix High Low Low Now! Drop it Schedule time High Urgency Importance
  6. 6. Knowledge Management and Investment Features Source: Adapted from Amrit Tiwana. 2000. The Knowledge Management Toolkit: Orchestrating IT, Strategy, and Knowledge Platforms. Prentice Hall. Risk Strategic Objective Building Exploring Low High Expanding or Defending Medium Time to Impact
  7. 7. Tacit Explicit Tacit Explicit Tacit Explicit Mapping Knowledge Management Investments Source: Adapted from Charles Despres and Danièle Chauvel. 2000. How to Map Knowledge Management. In Mastering Information management, edited by Donald Marchand and Thomas Davenport. Prentice Hall. Intra-andInter- Organizational Domain GroupIndividual Identify Create Store Share Use Business Intelligence Benchmarking Communities of Practice Competencies, Employee Learning and Development Yellow Pages Innovation, Synergies, Creativity Data Warehouse Internet
  8. 8. Innovative Knowledge Product and Service Development Source: Adapted from Simon Knox. 2002. The Boardroom Agenda: Developing the Innovative Organization. Corporate Governance: International Journal of Business in Society. Vol. 2 No. 1: 27–36. Emerald Group Publishing Limited. Superior Client Value Organizational Culture Organizational Structure Ability to Execute and Completeness of Vision Knowledge Products and Services Development
  9. 9. Value Creation in Knowledge Products and Services Source: Paul Iske and Willem Boersma. 2005. Connected Brains-Question and Answer Systems for Knowledge Sharing: Concepts, Implementation, and Return on Investment. Journal of Knowledge Management. Vol. 9, No. 1: 126–145. Emerald Group Publishing Limited. Value Process Focus Client Focus Financial Focus Innovation Focus Human Focus
  10. 10. Low High Value-to-Cost Ratio Source: Adapted from Amrit Tiwana. 2000. The Knowledge Management Toolkit: Orchestrating IT, Strategy, and Knowledge Platforms. Prentice Hall. Volatility < 1.00 > 1.001.00 Project A Project C Project B Project D Project E
  11. 11. The Knowledge Product and Service Development Process Source: Adapted from Simon Knox. 2002. The Boardroom Agenda: Developing the Innovative Organization. Corporate Governance: International Journal of Business in Society. Vol. 2., No. 1, pp. 27–36. Emerald Group Publishing Limited. Idea Search Cost Time Concept Clearance Evaluation Development Testing Launch Client Insights Client Insights Go Stop
  12. 12. Financial Perspective What is important to our shareholders? A Balanced Scorecard Source: Robert Kaplan and David Norton. 1992. The Balanced Scorecard: Measures that Drive Performance. Harvard Business Review. January-February: 71–80. Learning and Growth Perspective Are we innovative and ready for the future? Business Process Perspective Which internal processes can add value? Client Perspective How do clients perceive us?
  13. 13. Further Reading • ADB. 2007. Learning Lessons in ADB. Manila. www.adb.org/publications/learning-lessons-adb • ——. 2008. Auditing the Lessons Architecture. Manila. www.adb.org/publications/auditing-lessons-architecture • ——. 2008. Picking Investments in Knowledge Management. Manila. www.adb.org/publications/picking-investments- knowledge-management • ——. 2010. Seeding Knowledge Solutions Before, During, and After. Manila. www.adb.org/publications/seeding-knowledge- solutions-during-and-after
  14. 14. Quick Response Codes @ADB @ADB Sustainable Development Timeline @Academia.edu @LinkedIn @ResearchGate @Scholar @SlideShare @Twitter

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