Tuesday, 12 September 2006
Knowledge Management Evolving from Grassroots to Strategic Service Initiatives
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Service Excellence Research Group has announced the release of a new report, 'Knowledge Management - Strategies, Benchmarks and Best Practices.' Among the findings is that KM is evolving from informal grass roots projects to strategic service initiatives.... |
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Knowledge management (KM) is the sustained, integrated enterprise-wide application and optimisation of intellectual capital to achieve organisational mission and goals. It provides private sector and government organisations alike with the ability to anticipate and adapt to unpredictable change quickly and appropriately. As measured in direct benefits to your company or organisation
Service Excellence Research Group has announced the release of a new report, 'Knowledge Management - Strategies, Benchmarks and Best Practices.' Among the findings is that KM is evolving from informal grass roots projects to strategic service initiatives. While significant investments are being made to develop knowledge assets, strategies to measure the impact from knowledge remain elusive. The greatest inhibitors to the long-term success and maximum return on investment from Knowledge Management are the lack of sufficient funding and the commitment of adequate resources.
Through the collaborative efforts of ServiceXRG and eVergance data was collected from 117 leading service organisations through in-depth one-on-one best practices interviews and surveys. The report highlights the current strategies and practices companies use to capture and share the accrued knowledge and expertise of their service organisation. This report provides a look at the way companies allocate skills and resources to Knowledge Management, how content is captured and processed for distribution and the performance indicators used to measure success.
Other findings include:
- The average cost of Knowledge Management is 8.2% of the support budget, yet varies considerable by the size of the support organisation
- On average 3.1% of total support staff is dedicated to Knowledge Management activities
- Content quotas for support reps are widely used but reported to be ineffective
- The average knowledge base contains nearly 50,000 documents, yet more then half of documents are seldom or never used
- Deflection is the most common method used to measure the impact of knowledge management initiatives
“KM is among the top service initiatives today, yet there is little information available about how to staff, manage and measure theses efforts,” says Tom Sweeny, Principal & Co-Founder, ServiceXRG. “This report provides the practical advice, essential practices and measurement strategies required to develop a world-class knowledge management capability.”
“Many of our clients are either planning or expanding significant service-oriented knowledge management projects,” says Steve Raye, Senior Vice President & Co-Founder, eVergance. “ By partnering with ServiceXRG on this study, we have been able to develop unique perspectives on the state of KM. We expect the results will be invaluable to our client base and will strengthen our proven knowledge management consulting offerings.”
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