Thursday 16 July 2015

Quantified KM success story #92 - $700m in value at Conoco in one year

The Q2 2014 issue of the ConocoPhillips in-house Magazine, "Spirit"  contains an article about the annual Archimedes awards, with an interesting quantified statement of value.

Image from wikimedia commons

The article begins as follows:

Winners of the 2013 Knowledge Sharing Archimedes Awards gathered on March 20 in Houston and around the world via webcast to celebrate their extraordinary accomplishments. Winners hailed from 10 countries and contributed more than $700 million in documented business value, as well as a significant health, safety and environmental impact.

“Ten years of this kind of success is quite impressive,” said Matt Fox, executive vice president, Exploration & Production. “Effective knowledge sharing around the globe has made a huge financial and cultural impact on the company.”

That $700 million came from 33 awards, rather than being the total KM value for the whole organisation. It also represents only one year of awards, rather than the total value for ConocoPhillip's 12 years in Knowledge Management.

ConocoPhillips is a large independent (17,000 staff) multinational Oil and Gas company and a many-time winner of the MAKE awards.

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