Editing Knowledge management (section)

== Knowledge audit ==
A knowledge audit is a comprehensive assessment of an organization's knowledge assets, including its explicit and tacit knowledge, intellectual capital, expertise, and skills. The goal of a knowledge audit is to identify the organization's knowledge strengths and gaps, and to develop strategies for leveraging knowledge to improve performance and competitiveness. Knowledge audit helps ensure that an organization's knowledge management activities are heading in the right direction. It also reduces the making of incorrect decisions. Term knowledge audit is often used interchangeably with information audit, although information audit is slightly narrower in scope.<ref>{{Cite book |last=Skyrme |first=David |title=Capitalizing on Knowledge |publisher=Routledge |year=2001 |isbn=9780750650113}}</ref><ref>{{Cite journal |last1=Malekolkalami |first1=Mila |last2=Sharif |first2=Atefeh |title=A Systematic Review of Knowledge Audit Models during 2016 to 2020 |journal=International Journal of Information Science and Management |year=2022 |volume=20 |issue=3 |pages=227–244}}</ref>

The requirement and significance of a knowledge audit can vary widely among different industries and companies. For instance, within the software development industry, knowledge audits can play a pivotal role due to the inherently knowledge-intensive nature of the work. This contrasts with sectors like manufacturing, where physical assets often take more important role. The difference arises from the fact that in software development companies, the skills, expertise, and intellectual capital, often overshadow the value of physical assets.<ref name="Hand2019">{{Cite book |last=Hand |first=P. |year=2019 |title=Knowledge assets and knowledge audits |location=Bingley, England |publisher=Emerald Publishing}}</ref>

Knowledge audits provide opportunities for organizations to improve their management of knowledge assets, with the goal of enhancing organizational effectiveness and efficiency. By conducting a knowledge audit, organizations can raise awareness of knowledge assets as primary factors of production and as critical capital assets in today's knowledge economy. The process of a knowledge audit allows organizations to gain a deeper understanding of their knowledge assets. This includes identifying and defining these assets, understanding their behavior and properties, and describing how, when, why, and where they are used in business processes.<ref name="Hand2019" />