Modelling Knowledge is a necessity in case computer supported processing is applied. Hence the different level of formalisms for knowledge models and the resulting different application areas are discussed since the early stages of knowledge engineering and knowledge management. The cost and benefit calculation of the effort in modelling and the return on investment when applying processing on the models is still an unsolved challenge. The modelling element “Knowledge Product” is introduced by the modelling language PROMOTE® that enables a pragmatic, concrete and quick modelling of knowledge in enterprises. After this step, different KM scenarios for knowledge scorecards, processorientation, skill management or knowledge-based infrastructure can be realized. This paper introduces the overall model-based approach and focuses on the Knowledge Product element before introducing some lessons learned from research, teaching and commercial projects.

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