Knowledge management and risk management

This article takes the perspective that risk knowledge and the activities related to RM practice can benefit from the implementation of KM processes and systems, to produce a better enterprise wide implementation of risk management. Both in the information systems discipline and elsewhere, there has been a trend towards greater integration and consolidation in the management of organizations. Some examples of this are: Enterprise Resource Planning (Stevens, 2003), Enterprise Architecture (Zachmann, 1996) and Enterprise Content Management (Smith & McKeen, 2003). Similarly, risk management is evolving into Enterprise Risk Management. KM’s importance in breaking down silos within an organization can help it to do so.

Before and after modelling:risk knowledge management is required

Risk and knowledge are two concepts and components of business management which have so far been studied almost independently. This is especially true where risk management is conceived mainly in financial terms, as, for example, in the banking sector. The banking sector has sophisticated methodologies for managing risk, such as mathematical risk modeling. However. the methodologies for analyzing risk do not explicitly include knowledge management for risk knowledge creation and risk knowledge transfer. Banks are affected by internal and external changes with the consequent accommodation to new business models new regulations and the competition of big players around the world. Thus, banks have different levels of risk appetite and policies in risk management. This paper takes into consideration that business models are changing and that management is looking across the organization to identify the influence of strategic planning, information systems theory, risk management and knowledge management. These disciplines can handle the risks affecting banking that arise from different areas, but only if they work together. This creates a need to view them in an integrated way. This article sees enterprise risk management as a specific application of knowledge in order to control deviation from strategic objectives, shareholders' values and stakeholders' relationships. Before and after a modeling process it necessary to find insights into how the application of knowledge management processes can improve the understanding of risk and the implementation of enterprise risk management. The article presents a propose methodology to contribute to providing a guide for developing risk modeling knowledge and a reduction of knowledge silos, in order to improve the quality and quantity of solutions related to risk inquiries across the organization.

Process improvement and quality management systems in the financial services industry:the case for the OPEX quality management system and framework

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Making knowledge management in projects viable

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The determination of a basic management system for small construction firms within the Western region with recommendations for education and training patterns

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Knowledge management for more sustainable water systems

The management and sharing of complex data, information and knowledge is a fundamental and growing concern in the Water and other Industries for a variety of reasons. For example, risks and uncertainties associated with climate, and other changes require knowledge to prepare for a range of future scenarios and potential extreme events. Formal ways in which knowledge can be established and managed can help deliver efficiencies on acquisition, structuring and filtering to provide only the essential aspects of the knowledge really needed. Ontologies are a key technology for this knowledge management. The construction of ontologies is a considerable overhead on any knowledge management programme. Hence current computer science research is investigating generating ontologies automatically from documents using text mining and natural language techniques. As an example of this, results from application of the Text2Onto tool to stakeholder documents for a project on sustainable water cycle management in new developments are presented. It is concluded that by adopting ontological representations sooner, rather than later in an analytical process, decision makers will be able to make better use of highly knowledgeable systems containing automated services to ensure that sustainability considerations are included.

Making memories available:a framework for preserving rural heritage through community knowledge management (cKM)

While most of the research in Knowledge Management (KM) has focused on business communities, there is a breadth of potential applications of KM theory and practice to wider society. This paper explores the potential of KM for rural communities, specifically for those that want to preserve their social history and collective memories (what we call heritage) to enrich the lives of others. In KM terms, this is a task of accumulating and recording knowledge (using KM techniques such as story-telling and communities of practice) to enable its retention for future use (by interested people perhaps through KM systems). We report a case study of Cardrona, a valley of approximately 120 people in New Zealand's South Island. Realising that time would erode knowledge of their community a small, motivated group of residents initiated a KM programme to create a legacy for a wider community including younger generations, tourists and scholars. This paper applies KM principles to rural communities that want to harness their collective knowledge for wider societal gain, and develops a community-based framework to inform such initiatives. As a result, we call for a wider conceptualisation of KM to include motives for managing knowledge beyond business performance to accommodate community (cKM). © 2010 Operational Research Society.

Knowledge-based system for casting process selection

Design of casting entails the knowledge of various interacting factors that are unique to casting process, and, quite often, product designers do not have the required foundry-specific knowledge. Casting designers normally have to liaise with casting experts in order to ensure the product designed is castable and the optimum casting method is selected. This two-way communication results in long design lead times, and lack of it can easily lead to incorrect casting design. A computer-based system at the discretion of a design engineer can, however, alleviate this problem and enhance the prospect of casting design for manufacture. This paper proposes a knowledge-based expert system approach to assist casting product designers in selecting the most suitable casting process for specified casting design requirements, during the design phase of product manufacture. A prototype expert system has been developed, based on production rules knowledge representation technique. The proposed system consists of a number of autonomous but interconnected levels, each dealing with a specific group of factors, namely, casting alloy, shape and complexity parameters, accuracy requirements and comparative costs, based on production quantity. The user interface has been so designed to allow the user to have a clear view of how casting design parameters affect the selection of various casting processes at each level; if necessary, the appropriate design changes can be made to facilitate the castability of the product being designed, or to suit the design to a preferred casting method.

Using patient knowledge for better health systems

Purpose – This paper describes a “work in progress” research project being carried out with a public health care provider in the UK, a large NHS hospital Trust. Enhanced engagement with patients is one of the Trust’s core principles, but it is recognised that much more needs to be done to achieve this, and that ICT systems may be able to provide some support. The project is intended to find ways to better capture and evaluate the “voice of the patient” in order to lead to improvements in health care quality, safety and effectiveness. Design/methodology/approach – We propose to investigate the use of a patient-orientated knowledge management system (KMS) in managing knowledge about and from patients. The study is a mixed methods (quantitative and qualitative) investigation based on traditional action research, intended to answer the following three research questions: (1) How can a KMS be used as a mechanism to capture and evaluate patient experiences to provoke patient service change (2) How can the KMS assist in providing a mechanism for systematising patient engagement? (3) How can patient feedback be used to stimulate improvements in care, quality and safety? Originality/value –This methodology aims to involve patients at all phases of the study from its initial design onwards, thus leading to an understanding of the issues associated with using a KMS to manage knowledge about and for patients that is driven by the patients themselves. Practical implications – The outcomes of the project for the collaborating hospital will be firstly, a system for capturing and evaluating knowledge about and from patients, and then as a consequence, improved outcomes for both the patients and the service provider. More generally, it will produce a set of guidelines for managing patient knowledge in an NHS hospital that have been tested in one case example.

"Customer" knowledge management in healthcare

This paper reports on a work-in-progress project on the management of patient knowledge in a UK general hospital. Greater involvement of patients is generally seen as crucial to the effective provision of healthcare in the future. However, this presents many challenges, especially in the light of the ageing population in most developed countries and the consequent increasing demand for healthcare. In the UK, there have been many attempts to increase patient involvement by the systematisation of patient feedback, but typically they have not been open to academic scrutiny or formal evaluation, nor have they used any knowledge management principles. The theoretical foundations for this project come first from service management and thence from customer knowledge management. Service management stresses the importance of the customer perspective. Healthcare clearly meets the definitions of a service even though it may also include some tangible elements such as surgery and provision of medication. Although regarding hospital patients purely as "customers" is a viewpoint that needs to be used with care, application of the theory offers potential benefits in healthcare. The two main elements we propose to use from the theory are the type of customer knowledge and its relationship to attributes of the quality of the service provided. The project is concerned with investigating various knowledge management systems (KMS) that are currently in use (or proposed) to systematise patient feedback in an NHS Trust hospital, to manage knowledge from and to a lesser extent about patients. The study is a mixed methods (quantitative and qualitative) action research investigation intended to answer the following three research questions: • How can a KMS be used as a mechanism to capture and evaluate patient experiences to provoke patient service change • How can the KMS assist in providing a mechanism for systematising patient engagement? • How can patient feedback be used to stimulate improvements in care, quality and safety?

Project management system for a concurrent engineering framework

Completing projects faster than normal is always a challenge as it often demands many paradigm shifts. Globalization opportunities and competition from private sectors and multinationals are forcing the management of public sector organizations in India's petroleum industry to take various aggressive strategies to maintain profitability. These projects are required to be completed sooner than with a typical schedule to remain competitive, get faster return on investment and give longer project life.