Loss of knowledge after projects erodes media firms’ competitive edge, says expert

Media production firms should convert each project into enduring organizational knowledge, according to media and communications researcher Dr. Riyadh Al-Furaiji. He emphasized that the conclusion of a project should signify the beginning of a new learning phase, rather than the end of the expertise gained during its execution. Al-Furaiji explained that the project-focused nature of the media industry makes knowledge retention even more crucial.

Teams, clients, partners, and tools all change, making it risky to start each new project from scratch without mechanisms to preserve and transfer expertise.

He suggested that companies can accumulate this knowledge by following a straightforward process after each project, addressing questions like what was learned, what the audience thought, what worked and what didn't, what skills the team gained, and what should be changed for future projects. This approach is a practical implementation of his research on strategic planning for audiovisual content and its relation to competitive forces in Saudi media production companies.

The study revealed that many companies focus solely on task completion and project closure, missing an opportunity to leverage the accumulated experience within the organization.

Al-Furaiji believes that the current industry shifts make it even more vital to treat projects not just as deliverables, but also as sources of institutional knowledge and learning. He stated that while the market can provide technology, attract talent, and develop production tools, the accumulated experience within a company is difficult to purchase or replicate. Knowledge can become a significant part of a company's competitive advantage.

He added that benefiting from project-generated knowledge doesn't require complex systems; it can begin with documenting lessons learned, analyzing audience feedback, preserving successful solutions, reviewing decisions after implementation, and making this knowledge accessible to teams working on future projects. Al-Furaiji stressed that as the media industry rapidly evolves, the ability to learn from experiences becomes increasingly important for organizations to develop their products and adapt to changes in the market and audience.

He concluded with the question: After every media project, what does the company now know and is capable of doing that it couldn't before?