How well distributed is your KM budget?
There are 4 legs on the Knowledge Management table. Are you investing evenly in each of them?
Knowledge Management requires equal attention to the four key enablers of People, Process, Technology and Governance.
The test of whether you truly are paying equal attention is whether your KM program investments equally in these four crucial elements of the KM Framework.
Most of the time, we find that the companies we speak with spend far more on technology than on the other elements, and most of the time we find that their Knowledge Management program suffers as a result. Technology alone will not deliver knowledge management, and an overspend on technology is usually a bad strategic move.
We don’t have a lot of statistics on the proportional spend from KM campaigns, but the attached diagram shows the proportions from one program we were involved with, about 12 years ago. In this program we can see
- 34% of the spend was on Technology (ideally, should have been 25%)
- 8% of the spend was on Processes (ideally, should have been 25%)
- 58% was on People and Governance (ideally should have been 50%)
Tags: implementing KM