A View on Knowledge Management: Utilizing a Balanced Scorecord Methodology for Analyzing Knowledge Metrics

Abstract

IT professionals who want to deploy foundation technologies such as groupware, CRM or decision support tools, but fail to justify them on the basis of their contribution to Knowledge Management, may find it difficult to get funding unless they can frame the benefits within a Knowledge Management context. Determining Knowledge Management’s pervasiveness and impact is analogous to measuring the contribution of marketing, employee development, or any other management or organizational competency. This chapter addresses the problem of developing measurement models for Knowledge Management metrics and discusses what current Knowledge Management metrics are in use, and examines their sustainability and soundness in assessing knowledge utilization and retention of generating revenue. The chapter discusses the use of a Balanced Scorecard approach to determine a business-oriented relationship between strategic Knowledge Management usage and IT strategy and implementation.