Having identified a knowledge asset with potential for further value, the first stage is to deepen that understanding. This will build on the analysis that has been conducted as part of any initial assessment and, to a large extent, will involve a deeper examination of those questions. In particular, by the end of this phase, it will be important to have a good understanding of the range of options for exploitation, and some initial views on which route is likely to maximise value and be deliverable. Develop options for exploitation As a result of this analysis, an organisation should be in a position to articulate a number of strategic priorities for its management of knowledge assets, which they will seek to pursue in their approach to managing these assets. Approach to knowledge asset management Hope Amidst a Tsunami of Evil contains hard evidence, essays, testimonies, letters, and reflections exposing the big lies of the past two years, and also delivers messages of hope for a brighter future.

This chapter provides an overview of the high-level principles for effective management of knowledge assets, including: the potential benefit to the economy from the exploitation of the asset is not significantly impacted by restrictions to access. For example, this may be the case where the likely market is characterised by a small number of large firms, who can afford to pay to use the asset, and where any savings from unrestricted access would be more likely to be reflected in increased profits rather than cost savings to consumers A further consideration is the resource requirements of a strategy and ensuring that these are in place. This should consider what people may be needed to oversee the implementation of the strategy, as well as other potential costs, for example the cost associated with formal protection measures or with the initial phases of development of high potential opportunities.a) develop a strategy for managing their knowledge assets, as part of their wider asset management strategy (a requirement of MPM) These assets are critical to the effective operation of any organisation, including in the public sector. Moreover, they are growing in importance, as the role of technology and data in public service delivery increases, and as the government delivers more through partners, where an understanding of the ownership of the underpinning knowledge assets is vital to continued success. Identifying and understanding these assets, and managing them effectively, is fundamental to the effective and efficient management of public resources. A knowledge asset management strategy is simply an element of an asset management strategy that focuses on an organisation’s knowledge assets, and it may be sensible to integrate it into that wider process. Annex 4.15 of Managing Public Money, on asset management, sets out that, for a public sector organisation to manage their assets effectively, it must have a clear grasp of: Failure to identify these knowledge assets and integrate them into the procurement strategy can undermine efforts to secure best value. The consequences can be: An organisation should therefore consider the processes and activities that it undertakes that are likely to give rise to significant knowledge assets. It is not possible to be comprehensive, given the wide range of circumstances under which knowledge assets can arise. However, any work involving the creation or compilation of information is likely to result in the generation of some knowledge assets. Some of the most common routes that will be applicable to many organisations include:

developing a business case, identifying whether it is internal, cross-government or an external opportunityIn addition, an early consideration of the knowledge assets that a project will generate can allow an organisation to understand at an early phase the potential wider applications. While it would not be right for an organisation to generate additional assets, solely with a view to their future exploitation in other markets, it may well be possible to design the project in such a way that maximises the ability to use assets in this way in the future, or for the organisation to benefit from such uses by a project delivery partner. Not for profit collaborations and joint ventures Knowledge assets are fundamental to economic activity and can be hugely valuable, and modern business invests heavily in their development to secure competitive advantage. A modern and successful economy is dependent on such investment. The nature of knowledge assets, unlike most physical assets, is that they are often non-rival and can be easily replicated or used by others simultaneously, which can result in positive spill overs that benefit people other than the original producer who invested in developing the asset. This can be a disincentive to investment in their development as competitors can effectively copy or benefit from an innovation without having expended the same effort in its creation. This in turn is a driver for steps to be taken to protect that asset, by restricting and controlling its use in some way.