The project challenges of the oil and gas industry are characterized by changeand uncertainty. Work operations span the globe and smooth working partnershipscannot be anticipated. However, we can confront that uncertainty by becomingmore agile. Greater levels of agility rest upon leveraging the power ofknowledge - the cornerstone of successful corporations.

The difference between powerful Knowledge Management (KM) programs and thealso-ran is the ability to identify and enable critical knowledge. Theknowledge management system is a tool and not the end product. People stillmake the system work and are the critical component for input, expertcollaboration, and mentoring. In fact business value is created when criticalknowledge gets to the right person at their teachable moment and it is applied. The crucial knowledge-set within your organization is often hidden - sometimesburied - because it resides in people or in many electronic reports or instacks of lessons-learnt. The question we need to ponder is: Can too muchknowledge flow?

The goal of this paper is to outline how executives in the oil and gas industrycan capture and share knowledge to improve business performance. The papercontents will detail the best, most practical and innovative practicesorganizations are using today to create, maintain and measure knowledgesystems. The paper draws upon decades of research and experiential learning onperformance analytics, best practices, process improvement, and knowledgemanagement. The hope of the author is that the paper will prove to be a usefulreference whether your needs are to retain technical knowledge across globaloperations or transfer best practices in complex drilling geographies.

What Is Knowledge Management?

From a practical perspective, we define knowledge as information in action. Until people take information and use it, it isn't knowledge. In a businesscontext, knowledge is what employees know about their customers, each other, products, processes, mistakes, and successes, whether that knowledge is tacitor explicit.

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