Knowledge Management

The main purpose of the knowledge management process in ITIL is to share different ideas, perspectives, experiences, and information. It also has to ensure that these are available at the right place and at the right time in order to allow informed decisions to be made. It helps to improve efficiency by decreasing the necessity to rediscover knowledge.

Knowledge Management is a process inside the service transition stage of the service lifecycle, with its purpose being to:

• share information, ideas and experience
• make knowledge of the organization available to those who need it, when they need it, in order to support decision making
• eliminate the need to rediscover the knowledge

Basic Concepts of Knowledge Management

• Data: It is a set of discrete facts
• Information: It arises from providing context to the data.
• Knowledge: It is composed of experience, values, ideas, insights, values, and judgements of an individual.
• Wisdom: It makes use of knowledge to create value through correct and well informed decisions.