Professional in Human Resources (PHR) Practice Exam

Knowledge management (KM) primarily revolves around the process of managing knowledge to enhance performance. This involves effectively capturing, distributing, and utilizing knowledge within an organization to improve learning, foster innovation, and facilitate better decision-making. KM aims to ensure that the right information is accessible to the right people at the right time, which in turn can lead to improved efficiency and productivity.

By focusing on enhancing organizational performance through the effective management of knowledge, KM implements practices that help in creating a culture of continuous improvement and learning. This encompasses not only the storage and retrieval of information but also actively promoting collaboration and the sharing of best practices among employees.

The other choices, while relevant to organizational processes, do not align as closely with the core of KM. Creating new knowledge alone is a component, but it doesn’t capture the breadth of KM's focus on managing and leveraging existing knowledge. Managing employee performance data is more about performance management systems than knowledge management. Facilitating team collaborations is an important aspect but is more of a tactic used within the broader KM strategy rather than its primary focus.