Information Management

JOURNAL #TWO [DES501]

Information Management

Defining Information Management

In simple terms Information Management (IM) is a process where information in all its forms is:

• Collected
• Stored
• Managed
• Maintained

The term IM also encompasses the policies and procedures that are established to manage and share the information throughout the entire information life cycle, amongst the different stakeholders, organisations, internal and external users and connected information systems.

What is Information Management?

IM emerged in the 1970’s from data management. This emergence was the result of market demands, and specifically the significant uptake in consumers buying personal computers and companies managing their organisations with networking systems.

IM is not, however a static concept. As technologies develop and ideas and business requirements change, the definition of IM must evolve so user needs and requirements can continue to be met.

IM is a business practice which incorporates concepts that are familiar to business users and stakeholders such as planning, controlling or managing, and execution. The cycle of IM can encompass several activities that are common across organisations and businesses, this information lifecycle includes:

• The gathering of data
• Data analysis
• Categorising data stored
• Contextualising the data
• Archiving the data

The four main components of IM are:

1. People: Stakeholders and users create the data and use the information
2. Policies and Procedures: A set of established and well-defined rules that make certain determinations such as access controls, storage processes, mitigation of security risks, and time limits for archiving
3. Technology: This encompasses both the hardware and software required to meet the functional and business requirements
4. Data and InformationThe stored data that the other three components use

IM should not be confused with Content Management or Knowledge Management, these are separate concepts, albeit with some overlap.

The Principles of Information Management

The users of information rely on it in both their working careers and their personal lives, meaning there are many elements in the IM lifecycle from the technology, to the systems, and the business strategies. The IM framework and the connections between each element must be understood by those developing and maintaining the system.

The knowledge areas that must be understood are:

• Determining IT hardware and software specifications
• Ensuring systems meet the needs and requirements of the business
• Using the system tools to analyse and contextualise the data
• Evaluation and use of the business information for decision making
• The expected advantages the information will bring
• Business strategies are informed and guided by the processes of the organisation which are based on the information

The processes in the IM principles are:

Projects: The creation of new organisational capacity, or new software or hardware for the information systems
Change: Ensure improvements can be made through the evaluation of information systems
Operations: Ensure improvements to the day-to-day processes of the organisation, which benefit the overall system
Performance: Management are able to ensure the systems peak capacity is maintained

Information Management Strategies

To effectively guide standards and practices within organisations, strategies must be developed that include plans to improve processes and allow for future planning.

Information that can be useful when creating an IM strategy include:

• Current status of the organisation and its IM
• Future business goals and aims
• The steps the organisation intends to make to achieve those goals
• The policy documents and processes for interactions between departments
• Assigning responsibility to, and implementing all areas of the strategy, and produce reports that inform the strategy

Conclusion

To realise the full benefits of IM the principles and processes must be put to use in the organisation. If this is achieved managers are better placed to make effectively business decisions, which leads to the appropriate process actions, and ultimately meaningful results that benefit stakeholders and system users.

References

Information Management Best Practices - Smartsheet. (n.d.). Retrieved March 8, 2021, from https://www.smartsheet.com/information-management

The Information Management Body of Knowledge. (n.d.). Retrieved March 8, 2021, from https://www.imbok.info/

What is Information Management (IM)? - Definition from Techopedia. (n.d.). Techopedia.Com. Retrieved March 8, 2021, from http://www.techopedia.com/definition/20012/information-management-im