5.1.1 Conducting a knowledge audit
It is said that we live in the ‘Knowledge Age’ and few would disagree with the proposition that we are bombarded with information on a daily basis. Knowledge Audits are therefore a key activity to ensuring that the knowledge gathering and management activities of the organisation are relevant and useful for the achievement of the organisation’s Vision.
A knowledge audit is defined as:
A systematic examination and measurement of knowledge and the verification of infrastructural, human and social knowledge, its sources and the capital value of such resources as part of an organisation’s strategic purpose (Bowles, 2000:81)
The key point to note here is that the aim of the audit is to find out how well the organisation is using knowledge to meet its objectives. The Knowledge Audit’s aim is to find out how big the gap is between what the organisation desires and what is actually happening.
Knowledge audits examine:
- The knowledge the organisation already holds – including on paper, digital records, and the knowledge held by people within the organisation.
- Resources available for making knowledge accessible – e.g libraries, internet access.
- How the company uses knowledge
- The people involved in using knowledge
- The tools used for manipulating knowledge – eg databases
- Criteria used for cost/benefit analysis
- What are the benefits of conducting an audit?
Knowledge audits can deliver both short term and long term benefits. The short-term benefits are:
- Draws attention to immediate threats to the business
- Can provide cost savings from more rational management
- Can make knowledge more readily available to those who need it
Long term benefits include:
- A better understanding of the benefits that can be derived from knowledge management
- Better communication between knowledge managers and operational areas
- Development of better long term knowledge management strategies
- Better cost/benefit analysis of knowledge projects
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