Corporate Memory Retention

The loss of corporate memory on resources projects is one of the industry’s leading causes of fatalities – yet most organisations have few, if any systems in place to manage the problem, whilst those who do have systems in place, often poorly utilise these systems. The problem is so severe, that a study of coronial inquiries into deaths within the industry since 2000 reveals that 40% of fatalities have a loss of corporate memory as a contributing factor. With resources projects becoming more technically complex (ie: deeper, bigger), lasting for large time periods (sometimes 30 years plus) and the high turnover rate of key staff, the management of corporate memory presents a significant, often unrecognised safety challenge.

We have researched this issue extensively and understand the unique requirements of the resources industry. We can build a knowledge management system, tailored for any sized organisation which is made up of the following 6 key elements:

• Establish a web based data capture, storage and management system
• Coach and train relevant personnel as to the system’s use
• Introduce a culture of knowledge management within your organisation.  
• Reduce the turnover of key personnel
• Establish communities of knowledge
• Capture the knowledge of contractors and consultants

A failure to retain corporate memory not only has significant safety implications, but is also financially costly. Understanding and capturing the lessons from past mistakes can prevent them occurring again, whilst past successes can be passed on to other projects. Large savings have been realised across a host of industries when corporate memory is effectively managed and the resources industry can realise these savings too.

For more information regarding the research we have already conducted read our Safety implications of corporate memory loss for the resources industry paper.