Information Management: The Nexus of Business and IT

Chapter 6

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Information Management

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Information ManagementRequires a True PartnershipBetween IT and the Business

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Information Management Drivers

Compliance

Operational effectiveness and efficiency

Strategy

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The Foundation for Creating Business Value

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Figure 6.1

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Framework for Information Management

Stage One: Develop an IM policy.

Stage Two: Articulate operational components.

Stage Three: Establish information stewardship.

Stage Four: Build information standards.

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Stage One : Develop an IM Policy

Provides guidance for accountabilities, quality, security, privacy, risk tolerances, and prioritization of efforts for IM.

Should be established at a senior management level.

Helps to identify gaps in existing practices. 6-6

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Stage Two: Articulate Operational Components

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Figure 6.2

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Stage Three: Establish Information Stewardship

Clearly articulate IM roles and responsibilities.Information stewards are responsible for meaning, accuracy, timeliness, consistency, validity, completeness, privacy and security, and compliance of information.Information stewards should be business people.

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Stage Four: Build Information Standards

Standards ensure quality, accuracy and control goals can be met.

Use metadata repositories to cross-reference models, processes, and programs that reference information.

Standards help reduce information redundancy.

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IM Issues

Culture and BehaviorInformation Risk ManagementInformation ValuePrivacyKnowledge ManagementThe Knowledge-Doing Gap

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Culture and Behavior

Integrity – defines the information usage boundaries.

Formality – enables accurate and consistent information.

Control – establishes trust in the information.

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Culture and Behavior Continued

Transparency – describes the level of trust to speak about errors.

Sharing – exchange of sensitive and non-sensitive information amongst employees.

Proactiveness – creates an alertness to picking up new information about business conditions. 6-12

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Information Risk Management

Determine internal and external interdependencies.

Determine level of information security needed and cost to implement.

Develop an information security strategy.

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Elements of an Information Security Strategy

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Information Protection

CenterRisk

Management

Standards

Education & Awareness

Compliance

Identity Manageme

nt

Information Value

IM VALUE PROPOSITION SHOULD ADDRESS:S

trategic

Tactical

Operational

Information Value is difficult to quantify.

It takes time for an IM Investment to pay off.

IM Value is a subjective assessment.

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Privacy

Privacy regulations affect current and long-term IM initiatives.

Organizations must be in compliance with many new privacy regulations.

Many countries now require a chief privacy officer.

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Knowledge Management

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+ Context+ Judgment+ Intuition

KnowledgeInformation

Knowledge is a Fluid Mix of Framed Experience, Values, Contextual Information, and Expert Insight that provides a Framework for Evaluating and Incorporating New Experiences and Information. It Originates and is Applied in the Minds of Knowers……Thomas Davenport and Larry Prusak, 1998

Knowledge Is the Capability to Take Effective Action

=

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The Knowledge-Doing Gap

It is assumed that better information will lead to better decisions.

There needs to be a clear link between desired actions and the acquisition and packaging of specific information.

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Getting Started in IM

Start with what you have.

Ensure cross-functional coordination among all stakeholders.

Get the right incentives.

Establish and model sound information values.

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Elements of IM Operations

StrategyPeopleProcessesTechnology and ArchitectureCulture and BehaviorsGovernance

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IM Operations Strategy Elements

External Environment Strategic PlanningInformation Life CyclePlanningProgram IntegrationPerformance Monitoring

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IM Operations People Elements

Roles and ResponsibilitiesTraining and SupportSubject-Matter ExpertsRelationship Management

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IM Operations Process Elements

Project ManagementChange ManagementRisk ManagementBusiness ContinuityInformation Life Cycle- Collect, create and capture- Use and dissemination- Maintenance, protection, and preservation- Retention and disposition 6-23

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IM Operations Technology and Architecture Elements

IM ToolsTechnology IntegrationInformation Life Cycle OrganizationData Standards

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IM Operations Culture and Behavior Elements

LeadershipIM AwarenessIncentivesIM CompetenciesCommunities of Interest

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IM Operations Governance Elements

Principles, Policies, and StandardsComplianceIM Program EvaluationQuality of InformationSecurity of InformationPrivacy of Information

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Conclusion

Organizations face many challenges in implementing information management practices.

Although IT can take a lead in developing an information management plan, the business area must ultimately be involved in its implementation and the stewardship of information within the organization.

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