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Information Management

Saturday Brain Storming Thought (81) 03/10/2020-By Vr Avinash Kulkarni

Information Management

It is the cycle of processes that support the organization’s learning activities ie

1) identifying information needs

2) acquiring information

3) organizing and storing information

4) developing information products & services

5) distributing information

6) using information

Purpose of Information Management

It is to design, develop, manage and use information with insight and innovation

It support decision making and create value for individuals, organizations, communities and societies

Information Management policy

It is a set of rules for a type of content

These policies enable organization to control and track things like how long content is retained or what actions users can take with that content

Features of Information Management

1) Flexible – it should allow you to analyze and evaluate data from multiple sources as needed and in multiple ways depending on your needs

2) Easy to use – Managers should not required or need of advanced knowledge in information systems in order to get what they need

Key skills for information systems manager

1) analytical and problem solving skills

2) strong technical skills

3) the ability to work well under pressure

4) attention to detail

5) teamworking skills

6) organisation and time management

7) interpersonal and communication skills

8) management and leadership skills

Challenges for Information Management

1) paper based information gathering

2) time stamping information

3) recording of tasks

4) access to documentation

5) managing multiple sources of information

6) quickly querying information

Types of information management failures

1) Correspondence failure

It refers to when design objectives are not met when the system has been developed

2) Process failure

This type of failure occurs when an information system is not delivered in the specific time allocated or is costs more than the amounted budgeted for the project

3) Expectation failure

This type of failure views information system failure as the failure of system in meeting stake-holders requirements, expectations or values

4) Interaction failure

This refers to the end users usage of the information system about regular using or it’s implementation

More information More confusion

We don’t have hours to end to contend with everything that competes for our attention

Strategies for Information Management

1) contemplate in advance the kind of information you seek

2) identify the vital information carriers

3) streamline your intake capacity

4) beware of information crutches

5) establish a distribution system

6) be thoughtful when sending information

7) design responses

8) do away with paper

9) constantly review and update

10) acknowledge the benefits of remaining organized

Primary Components of information management

1) People

2) procedures and instructions

3) data

4) software

5) information technology infrastructure
6) internal controls

Types of information management

1) Transaction processing systems

2) management information systems

3) decision support systems

4) executive information systems

Information

It is meaning that can be communicated

This includes any data that can be interpreted by the human senses to become knowledge

Types of uncertainty in information management

1) ambiguity

2) known unknowns

3) unknown unknowns

4) future events

Information management analysis

1) search

2) source validation

3) information gathering

4) original research

5) aggregation

6) mapping

7) categorization

8) modelling

9) summary

10) interpretation

Information management as assets

1) Strategies, plans, goals and objectives to improve an organization future

2) information sold to customers

3) intellectual property

4) trade secrets

5) projects

6) training materials

7) marketing media

8) sales collaterals

9) customers list

10) operations

11) decision support

12) financial reports

13) organization culture

14) legal & compliance

15) Research & Development

Code of conduct for valuers under Information Management

Declaration given by valuer for every valuation report

1) I shall ensure that I maintains written contemporaneous records for any decision taken, the reasons for taking decision, and the information and evidence in support of such decision

This shall be maintained so as to sufficiently enable a reasonable person to take a view in the appropriateness of my decisions and actions

2) I shall appear, cooperate and be available for inspections and investigations carried out by a authority, any person authorised by the authority, the registered valuers organisation with which I am registered or any other statutory regulatory body

3) I shall provide all information and records as may be required by the authority, the tribunal, appellate tribunal, the registered valuers organisation with which I am registered, or any other statutory regulatory body

4) I while respecting the confidentiality of information acquired during the course of performing professional services, shall maintain proper working papers for a period of three years or such longer period required in its contract for a specific valuation, for production before a regulatory authority or for a peer review

In the event of pending case before the tribunal or appellate tribunal, the record shall be made till the disposal of case

Compiled by:-

Avinash Kulkarni

Chartered Engineer
Govt Regd Valuer
IBBI Regd Valuer

Information Management

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