Victorian Institute of Technology offers Knowledge Management MITS5505 subject to the students pursuing professional degree Masters of Information and Technology. This subject aims to help students learn about the theoretical foundation for knowledge and to build capabilities to manage knowledge within and across organizations’ structures.
As an emerging subject, Knowledge Management MITS5505 is concerned with how organizations, groups, and individuals manage their knowledge in all forms in order to improve organizational performance.
This subject looks at how knowledge is organized, how to choose and apply appropriate knowledge representation methods or tools, and how to retrieve stored knowledge using search and retrieval strategies.

Knowledge Management
Knowledge management is the process of a company’s information and knowledge is created, shared, collected, used, and managed. Knowledge management (KM) focuses on a company’s goals or objectives by addressing numerous areas such as performance improvement, innovation and creativity, competitive advantages, information sharing, and integration, all of which are necessary for long-term progress.
In other words, Knowledge management is the process of defining, structuring, retaining, and sharing the knowledge and experience of employees in the organization.
Knowledge Management Process
A knowledge management process is a manner through which a company manages knowledge, from its creation to its organizing methodology and to how it ensures it is shared out.
Knowledge Creation
The acquisition of knowledge is the first step in the knowledge management process. This knowledge can originate from a variety of places, including internal personnel and outside experts brought in to provide knowledge or experience on a given topic. Following the acquisition of knowledge, the next stage is to determine what knowledge will be used, how it will be used, and where it will be applicable.
Knowledge Organisation
The knowledge must then be organized for future use in a knowledge management system. This knowledge must not only be organized, but it must also incorporate security elements that allow authorized individuals to access it when needed. This knowledge organization process is crucial to knowledge management because, without it, knowledge becomes disorganized and lacks structure, making it difficult or impossible to locate in the future.
Knowledge Sharing
Knowledge sharing completes the knowledge management process. This knowledge sharing encompasses everything from knowledge training to knowledge exchange, in which knowledge can be obtained or increased through talks with other employees in a company.

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Section A- Knowledge Management Solution
Carefully read the given scenario and answer the questions.
Assume that you have been appointed as a Chief Knowledge Officer in one of the leading Australian Manufacturing companies (Australian Goods Manufacturing Pvt. Ltd.) Australia to accomplish the project which is to design a knowledge management solution for the engineers team. Your task would be to design a Knowledge Management solution for the company, especially for the engineer’s team in relation to the following requirements and issues.
In the Australian Goods Manufacturing Pvt. Ltd., old machinery is used to manufacture auto tools and the failure/fault in the machinery is frequent i.e. on average, each machinery experiences a fault on a quarterly basis. Due to a fault, a machine remains shut for an average of a day due to its repair work and which affects the production of auto tools. Also, it is hard for the engineers to keep a track of reasons why a fault has occurred in a machine, parts replaced, and/or repair tasks carried out to repair the faulty machine.
The company is in need to have a knowledge management solution that can keep track of reasons why fault has occurred in machinery, parts replaced, repair tasks that are carried out to repair the faulty machine, services required to the machinery to avoid similar fault in the future, etc. Also, the company wants to codify such knowledge and share it with other engineers to avoid similar faults in other machinery. Further, the company wants to capture the required tacit knowledge of each engineer, codify it, and share it with the engineer’s team. The main goal of the company is to have a knowledge management solution through which appropriate services can be done to each machinery to avoid or minimize the fault occurrences and because of this, there will be an increase in the production of auto tools, sales, and profit.
Q.1) Discuss in detail the knowledge audit, gap analysis, and KM strategy road map in relation to the requirements and issues mentioned in the given case study. Justify your answer. (10 Marks)
Q.2) Discuss each aspect like identifying the problem domain, capturing of knowledge, knowledge codification, and knowledge sharing in relation to the requirements and issues mentioned in the given case study. (10 Marks)
Q.3) Compare and select the capturing techniques and codification techniques considering KM components. Provide enough justification for selecting appropriate capturing techniques and codification techniques to keep a track of reasons due to which fault has occurred in machinery, parts replaced, repair tasks that are carried out to repair the faulty machine, services required to the machinery to avoid similar faults in future, etc. (8 Marks)
Section B- Emerging Tools and Techniques
Read the given scenario and answer the given question.
An online Stock Brokerage Firm has asked your employer to develop a Data Mining application to recommend stocks to the existing customers. Your manager wants you to analyze how the company works and see what data you can pull from their data warehouses.
Q.4) Prepare a discussion report for uncovering the knowledge to identify the customers who are likely to purchase the recommended stocks. Describe and justify the steps (Steps to be included – Business understanding, Data gathering, Data preparation, Model building, Model testing and analysis of results) in a life cycle of such a knowledge discovery Project. (7marks)