From a business perspective, resource investments in knowledge management must generate a financial return. In this Section, we describe how to develop the economic justification to support investment and provide many ideas on where to look for KM business value. Specifically, we:
- Describe our process for creating a KM business case,
- List many potential sources of value used in quantifying business benefits and calculating KM ROI, and
- Outline how knowledge management creates ongoing sustainable competitive advantage.
Iknow has worked with numerous clients in developing business cases for knowledge management. We follow the process shown in the Exhibit below. The process follows four steps: define the current state, define the future state, quantify the benefits and costs, and develop and refine the business case.
Process for Creating a KM Business Case
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