Summary: Play Now: Project Management Professional (PMP)® Exam: PMP Exam prep : Benjamin Anyacho and Cornelius Fichtner By 2029, 76 million baby boomers will retire. And organizations, including yours, are losing knowledgeable employees due to retirement and a competitive labor market. With 50% employee turnover in 2016, this brain drain of historical proportions increases our vulnerability to loss of institutional knowledge and critical skill sets required to conduct our business. In this interview, we explore the trends, urgency, value, techniques, and how-to of knowledge management — the new competitive and comparative advantage for high performing organizations. This interview with Benjamin Anyacho (LinkedIn Profile) was recorded at the superb Project Management Institute (PMI)® Global Conference 2018 in Los Angeles, California. In the interview we also discuss strategies for creating a knowledge management culture in your business environment and how to develop knowledgeable project teams. Episode Transcript Below are the first few pages of the transcript. The complete transcript is available to Premium subscribers only. Podcast Introduction Benjamin Anyacho: In this episode of The Project Management Podcast™, we discover strategies for creating a knowledge management culture and your business environment and how to develop knowledge management project teams. Cornelius Fichtner: Hello and welcome to The Project Management Podcast™ at www.pm-podcast.com. I’m Cornelius Fichtner. Podcast Interview Cornelius Fichtner: We are coming to you live from the superb 2018 PMI Global Conference in Los Angeles. And with me right now is Benjamin Anyacho. Good afternoon, Benjamin! How are you doing? Benjamin Anyacho: Good afternoon, Cornelius! I’m doing fantastic. Cornelius Fichtner: Yeah! So you already gave your presentation this morning on knowledge management. How did it go? How many people did attend? Benjamin Anyacho: Hundreds of people. It was intriguing and people were very impressed with the presentation and the delivery, the content, the richness of the content. I had so many people who are coming to take pictures with me. They made me a celebrity at the end of the presentation. But it was a very relevant subject that is rarely discussed. It’s part of the strategic PMI Triangle, is purely 100% strategic. So many people have very little information about knowledge management. So those who came were very impressed. Cornelius Fichtner: Why do you think it is very rarely discussed? Benjamin Anyacho: Yeah because it’s one of those subjects that is all over the place. People whom you think know about it have no knowledge or very little. One of the illustrations is I met with a group of executives to talk to them about knowledge management. One of them said: “Please forgive my ignorance. Is knowledge management not succession planning?” Actually, I told him, say: “It is like asking somebody: Is work breakdown structure not project management?” Cornelius Fichtner: Yeah, okay. Benjamin Anyacho: So knowledge management, succession plan is just a tool and a very little tool in the whole picture. And knowledge management is vast. It has different components, techniques. It’s bigger than just a succession plan. A succession plan is one of the tools but it goes beyond that. Cornelius Fichtner: So if you had to summarize it to give us a definition of what knowledge management is, how would you define it? Benjamin Anyacho: Knowledge management is according to many definitions, it has to be the ability to ease up a program. If I look and test a program that incorporates knowledge sharing, knowledge codification and knowledge management, okay? So in other words, knowledge management is the concept of articulating the knowledge asset of an organization and how to transfer that knowledge from the heart, from the hand of one employee to other employees and having fun doing it and creating new knowledge. Cornelius Fichtner: So this is beyond just project ma
