Knowledge Management for Electric Power Utility Companies

Introduction

Knowledge management (KM) and decision support (DS) provide opportunities to reduce many forms of risk, to improve business processes, to increase workforce engagement and morale, to enhance training programs and to ultimately deliver financial benefits. Furthermore, there are significant problems presently being experienced throughout the power utility industry associated with the retirement of experienced employees and a shortage of skilled personnel being available to enter the business. These problems are anticipated to worsen in the future. This situation has heightened interest in the potential for KM and DS as tools with which such problems can be addressed.

However, it is very important that a measured and systematic approach is taken to KM and DS. There is certainly no single solution that can be used in all circumstances, and there are many examples of KM projects and applications that have resulted in a failure to meet expectations and, in some cases, in the disenfranchisement of personnel. This chapter will provide an overview, and hopefully some guidance, into the various components of KM and will illustrate, through examples and references, the main steps and considerations that must be taken when planning, implementing, maintaining and evolving KM and DS initiatives.