Here's a nice quantified case study of monetary and time savings through the use of KM within Halliburton, taken from this excellent case study in Inside Knowledge magazine
"The high-pressure pumping and mixing process for fracturing, acidising and cementing have become more automated during the past ten years. This automation allows for consistency, but has also added new operational and maintenance processes.
"Just three years ago, Halliburton ESG noted that electronic technicians were required on 80 per cent of fracturing jobs to ensure that the electronics performed flawlessly. Technicians were difficult resources to hire and train to meet the demand of customers at each well site. Halliburton’s knowledge-management group facilitated the creation of a small team of electronic technicians for a three-month period in late 2001 to help understand the business needs and design a solution that would improve pumping job-service quality, reduce non-productive time and decrease the need for electronic technicians to intervene at individual well sites.
"Together, the electronic technicians and KM group were able to design a knowledge-management solution. Essentially, electronic technicians needed to be connected to experts and to each other so that the experience of the entire group could be used to troubleshoot and solve problems, rather than relying on the limited knowledge of one individual isolated at a customer’s well site. The group therefore developed a collaborative, problem-solving community to provide 24/7 peer-to-peer training, troubleshooting and support.
"The team defined the community and processes required for the technicians to discuss issues and share good practices. The group developed an easy-to-use portal interface, which was designed around a collaboration tool that allows the community to share its knowledge and get answers to questions. The interface also provides access to vital documents and contact information for leading experts on various pieces of hardware to ensure immediate answers to urgent technical questions. The community was launched in December 2001 and today is a thriving knowledge-sharing network of more than 200 users in numerous locations around the world. Interestingly, the number of users is greater than the actual number of electronic technicians within the community.
"In 2003, individual instances of knowledge sharing generated, in one way or another, over $1.4m for Halliburton. In addition, electronic technicians report time savings of approximately 20 per cent due to the community. This has allowed the company to meet the demands of business growth without employing additional technicians. The technicians it currently has are also better trained and more effective than ever. They have reduced the number of repeat repairs, measured through SAP work orders, from 30 per cent to virtually zero".