If implemented correctly, KM offers increased competitive advantage and reduced costs.
Failures can have a huge cost though.
As KM is a new discipline of research, no one knows for sure the correct method for knowledge management, but there are some failures. In looking for methods to implement knowledge management initiatives, people tend to focus on past success. We believe that it is just as important to focus on failures as well. Failures can tell us a lot, if not more than the success stories. Knowing information about what does not work can help minimize risk and cost in future initiatives.