Knowledge Management is an important process which is used for assessing the situation as per the specific and appropriate need. Knowledge Management helps in discovering the relevant information. This information is used appropriately to discover, hare and apply the knowledge that is gathered (Bergeron, 2003).
The sole purpose of knowledge management is to ensure that cost is minimized and that the resource are utilized to its fullest. This helps an organization in assessing its goals and achieving the desired results. The management of the organization makes sure that all the acquired knowledge is assessed. Methods are formed to assess ways with which the organizational goals and objective can be achieved (Bergeron, 2003).
SLIDE 2: PROCESSES AND AREAS OF KNOWLEDGE MANAGEMENT
Creation or acquisition
Knowledge is created or gathered by knowledge workers
Knowledge is retained and it is modified in order to meet the immediate or future needs
Knowledge is employed for some specific, and useful purpose. It is retained to be utilized in the future
Knowledge is retained in the mind so that it will survive in time and it can be accessed for use in the future
Transfer can also be called as communicating knowledge from one person or place to another
Knowledge is translated from its original form into a new form more suitable for some new purpose
Provision of limited access to knowledge workers according to their position in the company and their needs
It is important to identify which information/knowledge to keep and which to destroy (Bergeron, 2003).
SLIDE 3: HOW INFORMATION BECOMES KNOWLEDGE
First data is gathered. This data becomes information which is the distribution of the data according to the assessed situation. This will help in assessing the interface through proper structure and interpretation.
When the extracted information is acted upon and applied in a real life situation it becomes knowledge. In other words when information is applied on a real life situation it becomes knowledge.
SLIDE 4: PROJECT
The definition of project clearly states that it is a set of interrelated tasks which are required to be executed by the management of the company. The management or authorized personnel responsible for the project must ensure that the project is completed within the set budget, in a fixed time frame with the ultimate quality which can be possibly achieved (Hamilton, 2004).
SLIDE 5: ROLES OF A PROJECT MANAGER
Direct and controlling the project is linked to ensuring that the project is completed in the allotted time. Efficient and effective use of the resources is very necessary for the managers. Size of the projects and budgets set by the organization for the projects vary. The managers must ensure that the project is completed within the resources and budget that is available (Lewis, 2006).
The managers are responsible to align the workforce of the organization to appropriate tasks suitable and ensure the availability of the resources. The managers are accountable for the completion and success of the project (Lewis, 2006) The performance and the progress of the project is required to be communicated to the top management on a regular basis.
SLIDE 6: NINE AREAS OF PROJECT MANAGEMENT
- Project Scope Management
This is the process which ensures that all the essentials of the project are included in the project. It ensures that all the requirements are included and no new requirements are included to the project in a manner that will harm the project.
- Project Integration Management
The coordination process between different functions of the project is managed in this segment. The coordination between different areas is essential for the project to ensure that the management functions are performed with complete efficiency.
- Quality Management
This segment ensures that all the requirements of the project that have been set are accomplished. Ensuring quality performance is essential for the process.
- Cost Management
Processes of a project are to be accomplished in the most cost effective manner. The management has a budget allocated to the project. The most cost effective completion of the project will ensure efficiency.
- Time Management
If the project is completed within the schedule that is allocated to the project then the time is said to be managed efficiently.
- Communication Management
The reporting process of the project is referred to as the communication management. It determines the methods which shall be used in delivering information of the project performance.
- Risk Management
Controlling and assessing all the problems which can arise during the project.
- Procurement Management
Acquisition of material and services that are essential for the completion of the project.
- Human Resource Management
All the processes related to managing the project team (Lewis, 2006).
SLIDE 7: PHASES OF A PROJECT
Project management is a five step process
It starts with initiation and creating an idea of how to start the project. Then the managers define the purpose of the project and plan the steps which are required for the timely completion of the project . A proper plan is launched and the plan is executed to ensure that all the goals and targets which the management intends to achieve are accomplished. The project is ensured to be controlled and the performance of the workforce is carefully monitored and assessed (Harrison, and Lock, 2004).
After the project is completed the performance of the workforce and the success of the project is assessed. This suggests that the project is efficiently completed and all the organizational goals and objectives associated to the project have been achieved.
Slide 8: RELATIONSHIP BETWEEN KNOWLEDGE MANAGEMENT AND PROJECT MANAGEMENT
Knowledge management and project management are interrelated and interconnected. This is because the project managers are required to assess the project with respect to the individual motivation of the workers included in the workforce. The intention of the project is to share knowledge with the workers and discuss the organizational goals with the workers so that the teams can work accordingly (Yeong, and Lim, 2010). There are two sorts of knowledge sharing behavior. One is Tacit knowledge and the other is Explicit knowledge.
The success of the project is related to achieving the basic goals and objectives of the project. The managers must ensure that the project is completed in time with the allotted scope. The budget of the project must be set. The quality of the deliverance must be ensured by the managers so that the stakeholders are satisfied (Yeong, and Lim, 2010).
Communication and knowledge sharing is essential for the project. The barriers between the management and the workforce assigned to the project must be minimum.
Atkinson, R. (1999). 'Project management: cost, time and quality, two best guesses and a phenomenon, it is time to accept other success criteria'. International Journal of Project Management, vol.17, no. 6, pp. 337–42.
Bergeron, B. (2003). Essentials of Knowledge Management. John Wiley & Sons, Inc., Hoboken, New Jersey.
Hamilton, A. (2004). Handbook of Project Management Procedures. TTL Publishing, Ltd: London.
Harrison, F., and Lock, D. (2004). Advanced project management: a structured approach. Gower Publishing, Ltd: Surrey.
Lewis, R. (2006). Project Management. McGraw-Hill Professional: London.
Yeong, A., and Lim, T. (2010). Integrating knowledge management with project management for project success. Journal of Project, Program & Portfolio Management, Vol. 1, No. 2, pp. 8-19.