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Knowledge Gap Time-Bomb Looks Set To Cost UK Industry £2.6 Billion A Year |
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Written by Tarachand Wanvari
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Monday, 25 June 2007 |
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The UK faces the risk of a yawning knowledge gap: the amount of new
infrastructure required in the UK outstrips the knowledge available to
build it. According to a new research paper issued by LogicaCMG[1], a
leading provider of business and IT services to the energy and
utilities sector, if effective knowledge management practices are not
implemented, UK industry could see £2.6 billion of projects under
threat due to a lack of expert knowledge amongst staff.
Over the next few years the UK will invest billions of pounds on
large-scale energy and utility projects including nuclear
decommissioning, new electricity transmission lines, carbon capture
facilities and new reservoir & treatment work construction, in
addition to critical infrastructure projects including a proposed new
runway for Stanstead Airport, Crossrail and the 2012 Olympics. Nuclear
decommissioning alone is expected to cost £70bn, with Crossrail coming
in at around £20bn and an initial £55bn estimated for securing the UK's
energy supply. The knowledge-intensive nature of the work required to
make such projects a reality means their success could be directly
impacted by the knowledge gap, putting them at risk of delays or even
failure.
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