Developing a business case for knowledge management: the IMPaKT approach

Abstract

There is a wealth of literature on the role of knowledge management (KM) in business improvement. Those with responsibility for implementing KM in organizations are often required to demonstrate its benefits. The need to convince senior management and other stakeholders about the business benefits is increasingly recognized as crucial in justifying a KM strategy and the resources to support its implementation. A three-stage approach (the IMPaKT framework) - underpinned by an industry survey and case study findings - is presented for developing a business case for KM. The framework facilitates: (1) an understanding of the strategic context of business problems and their knowledge management implications; (2) the planning and alignment of KM strategy to address business problems or objectives; and (3) an evaluation of the impact of KM on business performance in terms of effectiveness and efficiency. Key findings based on industrial application and further development of the framework are discussed. Evaluation shows that the framework could significantly facilitate the implementation of a KM strategy in construction organizations.

Keywords:

• Knowledge Management
• Business Performance
• Construction Organizations