What is the difference between information management and knowledge management?

There is a subtle, but very significant difference between knowledge management and information management, linked to the differences between knowledge, information and data.

Information management is "the provision of the right information to the right people at the right time". Knowledge management goes beyond this, and provides not just information, but insight, guidance, experience and know-how, for the purpose of decision support and effective action. Knowledge management is as much about connecting people than connecting PCs, more about building communities than building databases, and more about reflection and analysis than about architectures and taxonomies. Knowledge is a lot harder to manage than information, as it is mainly stored in heads rather than hard disks. However knowledge management needs to be built on a foundation of good data management and information management.