Session 2.5
The True Cost of Losing Knowledge and How to Save It
Synopsis:
Knowledge Management is the process of creating, sharing, and managing the knowledge and information of an organization, to avoid the costly process of having to re-learn. Understand how our dedicated department was created, continues to impact our workflows and strategy, and how a firm of any size can do it.
Learning Objectives:
1. Understand the fundamentals of Knowledge Management, best practices, theories and frameworks.
2. Learn the role technology plays in supporting knowledge creation, retention, transfer, and translation.
3. Realize the value of knowledge and how to avoid the cost of re-learning valuable information.
4. Learn how a studio of any size can embed KM into their practice.
Body:
Knowledge Management (KM) is the process of creating, sharing, using, and managing the knowledge and information of an organization. It helps to improve the efficiency and productivity of the organization, but this only happens when knowledge is shared and easily accessible to everyone within the organization. KM also helps to facilitate collaboration and communication among employees in unexpected ways. The question becomes, what is the foundation to a strong Knowledge Management framework and how can an organization implement it into their pre-existing processes and workflows?
When done right, KM supports the organization’s overall strategy and goals. By managing knowledge effectively, organizations can ensure that their knowledge assets are aligned with their business objectives and can be used to support the achievement of these goals. To fully realize the ROI of a knowledge management framework, organizations must first understand the fundamentals. In this session, attendees will learn about the six components of KM which include: connecting people, learning from experience, improved access to documents, retention of knowledge, creation of best practices, and innovation. This presentation will analyze the main theories that drive KM as well as the tools and knowledge building guiding principles.
Participants will learn how a studio of over 240 has developed and maintained a knowledge sharing ecosystem that has allowed for improved efficiency, productivity, collaboration, and studio success, while ensuring continuous learning. Understand how our dedicated Knowledge Management Department was created, how it continues to impact our workflows and strategy, and how a firm of any size can implement a KM framework of their own. This presentation will also explore the role technology plays in supporting knowledge creation, retention, transfer, and translation. Using analytics and data, a firm can determine the best methods of knowledge distribution based on the individual needs of its staff, so that they can access the information they need to do their jobs effectively and efficiently. This leads to improved decision making, faster problem solving, and increased innovation.
By capturing and storing knowledge, organizations can avoid the costly and time-consuming process of having to re-learn or re-discover this information. Knowledge Management is fundamental to business continuity in a rapidly changing business landscape.