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Knowledge Management And The Construction Industry

Decent Essays

Knowledge management is critical in the construction industry to gain competitive advantage as well as growth. “Knowledge is information that changes something or somebody, either by becoming grounds for actions or by making an individual (or an institution) capable of different or more effective action” (Drucker, 1989). Knowledge Management is particularly important in the construction industry because of the uniqueness of each project, different challenges to every project, tight schedules and limited budgets. Knowledge Management is difficult because knowledge is multi-dimensional. There are two types of knowledge – explicit knowledge and tacit knowledge. Explicit knowledge is the one that can be expressed in formal and systematic format and shared in the form of data. Tacit knowledge on the other hand is more subjective and experience based and not visible and thus not easily expressed or communicated. There is abundant research describing how Knowledge Management is being successfully practised in large companies, but little on what success factors are necessary for efficient Knowledge Management in small or new orgranizations. The barriers faced by the smaller construction organizations to effective knowledge management can be identified as:
1. Lack of appreciation of knowledge as an important asset
2. Inappropriate tools of measuring knowledge
3. Rigid organizational structure
4. Inadequate standardized processes
5. Lack of information sharing culture
6. Lack of clear

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