Knowledge Management Life Cycle Model Exercise

Summary

This video offers a comprehensive guide on implementing a knowledge management life cycle model, focusing on the development of a consumer lending knowledge base for auto loans. It outlines the process starting from evaluating existing infrastructure, forming a knowledge management team, capturing and codifying expert knowledge, to system verification and validation. The video emphasizes the importance of understanding the domain, utilizing tools like interviews for knowledge capture, and maintaining the system for effective loan sanction decisions.

Takeaways

• 📚 The video focuses on the knowledge management cycle model, explaining its phases and how it can be applied in scenarios like exam preparation.
• 🛠️ The first phase involves evaluating the existing infrastructure, understanding current models, and identifying gaps within the organization's knowledge management system.
• 👥 A knowledge management team is formed, bringing together resources and experts to work on the project.
• 📥 Knowledge capture is a crucial phase where information is gathered from experts with in-depth knowledge about existing projects and organizational processes.
• 📝 The captured knowledge is codified and organized into a usable format, often using decision trees, frames, or rules for easy access and decision-making by intelligent systems.
• ✅ Verification and validation of the knowledge management system follow, ensuring that the developed model meets the requirements. Any gaps identified necessitate revisiting earlier steps for refinement.
• 🚀 Implementation of the knowledge management system within the organization takes place, accompanied by an assessment of real-time challenges faced by employees.
• 🔍 Post-system evaluation is conducted to identify any drawbacks or issues encountered by users of the new model.
• 🏦 The video outlines a specific scenario where a knowledge base is developed for consumer lending, guiding junior officers in auto loan approvals with the help of experienced experts sharing their knowledge.
• 🔄 Continuous maintenance and updating of the knowledge base are essential, including adding new rules and knowledge to ensure the system remains effective and up-to-date.

Q & A

What is the first phase in the knowledge management system life cycle model?

The first phase in the knowledge management system life cycle model is evaluating the existing infrastructure, which involves understanding what is already available in the organization, including existing models and softwares.

What is the purpose of developing a knowledge management team?

The purpose of developing a knowledge management team is to rope in a group of people or resources in order to complete the project, ensuring that the necessary expertise and skills are available to move the project forward.

How does the knowledge capture phase contribute to the knowledge management system?

The knowledge capture phase contributes to the knowledge management system by gathering knowledge and information from experts who have ample knowledge about existing projects and the complete job done inside the organization.

What is the significance of designing a knowledge management system blueprint?

Designing a knowledge management system blueprint is significant as it involves codifying the captured knowledge into a structured form that can be used by the system to make decisions.

Why is it necessary to verify and validate the knowledge management system?

Verifying and validating the knowledge management system is necessary to ensure that there is no gap between the requirements and the developed model, and to achieve a proper understanding and design of the model.

What are the challenges that employees might face when implementing a new knowledge management system?

Employees might face challenges such as adapting to the new system, understanding how to use it effectively, and dealing with any technical issues that may arise during the implementation of the new knowledge management system.

How does the post-system evaluation help in the knowledge management life cycle?

Post-system evaluation helps in the knowledge management life cycle by identifying drawbacks and problems that employees face when using the new model, allowing for necessary adjustments and improvements to be made.

Can you provide an example of how to apply the knowledge management life cycle model to a real-world scenario?

An example of applying the knowledge management life cycle model to a real-world scenario is developing a consumer lending knowledge base to guide junior bank officers in providing loans, where the model would involve identifying the problem domain, capturing knowledge from experts, codifying it, implementing the knowledge base, and maintaining it for regular use.

What tools or methods can be used for knowledge capture in the knowledge management process?

For knowledge capture, tools such as interviews, surveys, and documentation reviews can be used. The major and prominent tool mentioned in the script is the interviewing tool, where experts are interviewed to gather their knowledge.

How does codification of knowledge help in making the knowledge base accessible for decision-making?

Codification of knowledge helps in making the knowledge base accessible for decision-making by converting the captured knowledge into a form that can be easily used by intelligent systems, such as decision trees, frames, decision tables, or sets of rules.

What is the role of maintenance in the knowledge management system life cycle?

The role of maintenance in the knowledge management system life cycle is to ensure the system remains up-to-date and functional by adding new rules, updating the knowledge base, and addressing any issues that arise to maintain proper functioning.

Outlines

00:00

📚 Understanding the Knowledge Management Life Cycle

This paragraph introduces a video segment focused on knowledge management, specifically the knowledge management system life cycle model. It begins by emphasizing the importance of evaluating existing infrastructure within an organization, which includes understanding the current models and software in use. The paragraph then outlines the subsequent phases: forming a knowledge management team, capturing knowledge from experts, designing a knowledge management system (KMS) blueprint, codifying and verifying the knowledge, and implementing the system. The process concludes with post-implementation evaluation to identify any issues or drawbacks. The paragraph also introduces a hypothetical scenario where a consumer lending knowledge base needs to be developed, highlighting the need to understand the domain and the steps involved in the auto loan sanctioning process.

05:03

🤝 Leveraging Expert Knowledge for Loan Sanction Model

The second paragraph delves into the practical application of the knowledge management life cycle model, particularly for developing a loan sanction model. It suggests engaging with experts within the organization who are willing to share their knowledge. The process involves capturing this knowledge through interviews and other mechanisms, then codifying it into a format that can be used by intelligent systems, such as decision trees, frames, or rules. The paragraph emphasizes the importance of implementing the knowledge base so that loan officers can use it to make informed decisions. It also mentions the need for ongoing maintenance and updates to the knowledge base to ensure its continued effectiveness and relevance. The paragraph concludes by reiterating the importance of these steps in creating a robust knowledge base for business decision-making.

Keywords

💡Knowledge Management Cycle

The Knowledge Management Cycle is a systematic approach to capturing, codifying, and managing knowledge within an organization. In the video, it refers to the various phases, such as evaluating existing infrastructure, knowledge capture, and implementation, that help develop a structured knowledge base for specific organizational needs.

💡Evaluating Existing Infrastructure

Evaluating Existing Infrastructure involves assessing the current state of knowledge resources, tools, and technologies within an organization. In the video, this phase is used to identify gaps in the existing knowledge management system, determining which models or software are already in place before developing a new knowledge management system.

💡Knowledge Capture

Knowledge Capture is the process of gathering knowledge from various sources, especially from experts within the organization. In the video, it is described as an essential phase where information is obtained through methods like interviews, enabling the organization to create a knowledge base for tasks like loan approval in a bank.

💡Knowledge Codification

Knowledge Codification involves organizing captured knowledge into a structured format that can be easily accessed and used by others, such as decision trees, frames, or rules. In the video, this step is vital for transforming raw information into a usable format that helps bank officers make decisions about loan approvals.

💡Knowledge Management System (KMS) Blueprint

The Knowledge Management System (KMS) Blueprint is a detailed plan that outlines how the knowledge management system will be structured and implemented. In the video, designing this blueprint is a key phase after knowledge capture, ensuring that the captured knowledge is organized in a way that supports decision-making within the organization.

💡Implementation

Implementation refers to the actual deployment of the knowledge management system within the organization. In the video, it involves making the knowledge base accessible to employees, such as loan officers, who can use it to make informed decisions about loan approvals based on the organized knowledge.

💡Post-System Evaluation

Post-System Evaluation is the process of assessing the effectiveness of the newly implemented knowledge management system. In the video, it includes identifying any drawbacks or issues faced by employees and understanding the challenges encountered during real-time use, ensuring continuous improvement.

💡Knowledge Base

A Knowledge Base is a centralized repository of structured information that is used to make decisions or solve problems. In the video, the knowledge base is developed to help junior bank officers make decisions on loan approvals by utilizing information shared by senior officers and experts.

💡Consumer Lending Knowledge Base

The Consumer Lending Knowledge Base is a specific type of knowledge repository designed to assist bank officers in managing loan approvals and guiding customers through the lending process. The video discusses developing this knowledge base by capturing and codifying expert knowledge about loan procedures.

💡Regular Maintenance

Regular Maintenance refers to the continuous updating and refining of the knowledge management system to ensure it remains relevant and effective. In the video, it emphasizes adding new rules or information to the knowledge base as needed to maintain its accuracy and usefulness for tasks like loan sanctioning.

Highlights

The video focuses on how to crack a given scenario from an exam perspective.

Knowledge Management Cycle involves evaluating existing infrastructure to understand what's available in the organization.

Identifying gaps in the current system is a key step before moving forward with the Knowledge Management Team development.

The Knowledge Capture phase is crucial, where information from experts is gathered to help with the existing projects.

Codifying captured knowledge into a usable format is necessary for creating an accessible knowledge management blueprint.

Verification and validation of the knowledge management system ensures the captured information aligns with organizational needs.

Implementation of the Knowledge Management System involves deploying it within the organization and monitoring challenges faced by employees.

Post-system evaluation is the final phase, identifying drawbacks and potential improvements after the model's deployment.

In the scenario provided, the goal is to develop a consumer lending knowledge base for junior bank officers to help them with loan approvals.

Understanding the domain of auto loans is the first step before developing the knowledge management model.

Knowledge capture from senior officers with ample knowledge in loan approvals is essential to create the knowledge base.

Tools like interviews are commonly used for knowledge capture to gather expert insights for the knowledge base.

Knowledge codification is performed using decision trees, tables, or rules, enabling intelligent systems to make decisions.

The final model is implemented to help loan officers decide if applicants are eligible for loans, based on the captured and codified knowledge.

The system requires regular maintenance, where new rules and knowledge need to be added to keep the model functional and up-to-date.

Transcripts

so friends this video is another

knowledge exercise and you will

understand how to

crack a scenario which is given to you

from the exam point of view

so this knowledge exercise will be based

on the

knowledge management cycle uh model

uh like we have different phases in the

knowledge management uh

system life cycle model it starts from

evaluating the existing infrastructure

where you will be understanding what is

already available

uh in the organization what is the

existing

models you have what are the various

existing softwares that are being

employed

right and then on evaluating the

existing infrastructure

and identifying the gap we will move

into

developing the knowledge management team

where you will rope in

ex a group of people or resources in

order to

complete the project once the team is

finalized

the next phase would be your knowledge

capture phase

where you will be uh like capturing the

knowledge that is you are going to

get the knowledge uh and information

from

experts those who have ample knowledge

about the already existing projects and

also about

the complete job that is done

inside the organization followed by

designing the kms blueprint where the

knowledge management system blueprint is

designed

and you will be uh codifying the

knowledge that is being captured

okay after codifying the knowledge uh

we will be verifying and validating the

knowledge management system

and the knowledge management base that

is developed if there is a gap between

the requirements and the

model that is developed we are going to

repeat this

two steps again and again until a proper

understanding of the model is achieved

and a proper

uh model is being uh

designed okay so followed by that you

you will be doing your implementation

where you will be uh like

employing the game uh knowledge

management system in the organization

and also uh on employing the man

on employing the knowledge management

system model

we will also understand what are the

various challenges that

in real time the employees will face

once everything is done

post system evaluation is also followed

as a last step

in order to identify what are the

various drawbacks in

employing the new model what are the

various problems that the

employees face when they are using this

new model

right so all these faces uh

like they will be employed in order to

deploy a knowledge management life cycle

model i mean

deploy knowledge management model in the

organization

so here scenarios uh like this would be

given okay

for uh like uh if i'm asking you to

develop a consumer lending knowledge

base

uh where a junior bank officer would

would have to be guided

in order to provide loans okay so auto

loan

model is this okay you have to provide a

management model which will help you in

developing auto loan

knowledge base and also there are

experienced senior officers who are

willing to share their knowledge so you

have

experts who are ready to who are ready

and they have good attitude in order to

share the information and share the

knowledge

that they have in the knowledge in the

loan

approval process okay so when you are

given a job like this you

when you are asked to develop a consumer

lending knowledge base

how will you do it uh what are the

various uh like

concepts that we have seen in the life

cycle model various faces that you have

seen in the life cycle model what are

the various phases that you will be

using is the question okay

so in order to answer this question you

have to first clearly understand

what is the domain that lies behind this

model

so you have to understand what are the

various uh like

steps that are being followed uh

in the auto loan section so that

the loan sanction is being done so

pakka like you will have to understand

the domain

before you're going to develop okay so

the first

step that you will be employing is your

identifying the

problem domain so once you have

identified the problem domain and you

are clear with what is the problem

statement

we will start with developing the model

so the first phase of any knowledge

management model will be understanding

the problem

and then you will start off with

knowledge capture as i have told there

are few people inside the organization

who are very

uh like a very good in their attitude

and they are very well

read they are ready to share their

knowledge

so you can also get help from these

experts so that the

knowledge from the experts could be

captured using any of the knowledge

capture mechanisms

that you are aware of okay for the

the major and the prominent tool that

will be used is your interviewing tool

where you will be interviewing the

expert and getting answers from them

in order to use that inside your model

once the knowledge is being captured

then

the knowledge codification comes in

where you're going to codify the

knowledge

into a form that could be made easily

available for intelligent systems to

take decisions okay

so you will be either using decision

trees or frames

or decision tables or set of rules so

that whichever is feasible and whichever

is okay for the organization you can

adopt that codification model

and you can convert this captured

knowledge into a set of

uh rules that would be used by the

system

finally once all this model is i mean

being the knowledge base is being

developed

you are going to implement it right you

are going to

make that knowledge base uh

like accessible by everybody in the

organization where

this person who is responsible for

a loan sanction would use that knowledge

from the knowledge base

yes and then he might use that

information

to provide loans okay to select whether

the applicant

is eligible for loan or not so once it

is implemented we will again test

and uh the the knowledge which is not

sufficient okay that is if we find any

lack of sufficiency

then we can again go back to the

knowledge capture step and you can

gather extra information

and extra knowledge from the expert and

then again

add those rules to the knowledge base

for better understanding

finally once everything is done you can

deploy this model

uh deploying is nothing but you are

going to make it uh

available and accessible for knowledge

transfer so you're going to deploy this

model so that each and every loan

officer will be using this model

to make business decisions and finally

once this model is being

uh employable uh regular maintenance of

this model has to be done

uh regular maintenance in the sense if

new

rules are being added it has to be again

uh

added into your uh that is you added

into your knowledge base

i mean it has to be codified into your

knowledge base and it has to be

maintained then and there in order to

have a proper functioning of the

uh model okay so these are the various

uh faces that

you will be employing in order to create

a knowledge base

for a loan sanction model hope this

would have been useful for you

uh we will catch up with a few more

questions like this and solutions for

the same

thank you