Measuring Value of Knowledge-Based Initiatives - Evaluation of Existing Models and Development of a New Measurement Framework

Knowledge management (KM) has long gained acceptance as an important pillar in the organizational realm. However, the acceptance of standardized measurement systems to assess KM value has lagged behind. This is mainly due to the intangible nature of knowledge assets and the fact that no consensus has been reached on the positive effects that KM generates, which could then, in turn, be measured. A standardized measurement system would assist practitioners arguing for the introduction of KM initiatives. It would also enable managers in assessing the performance of those KM endeavors already in place. The main goal of this paper is thus to provide an overview of existing KM value measurement approaches, to evaluate these on the basis of a predefined catalogue of criteria, and to derive a new, combined model from this assessment.