Cross-industry studies show that up to 85 percent of all KM initiatives fail to achieve their business objectives. IT executives should conduct knowledge audits to identify and measure knowledge flow, gaps, and source credibility. The information will help IT executives develop a strategic KM initiative, or redesign current knowledge practices to be more effective. The time and effort required to complete a proper knowledge audit and maintain momentum should not be under-estimated. The next phase involves inventory and analysis of the knowledge inventory, then the next phase of the audit.”]