Human capital

By practicing knowledge management, an organization can manage the knowledge possessed by its project team's members. Such practices can ensure that an organization effectively and efficiently adapts to personnel changes without losing vital project information and project momentum. This article examines knowledge management as a critical organizational competency. In doing so, it discusses the advantages of practicing knowledge management, explaining how it helps organizations capture the information possessed by the employees, information that organizations invests their resources in developing. It describes the methods some companies have used to both capture and share knowledge and identifies the informal factors that can help organizations collect and spread organizational knowledge. It also discusses a knowledge management process practiced by several large organizations--SAP, Boeing, KPMG, and BearingPoint--and the challenges facing companies, particularly those operating in Europe and the Asia Pacific
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