1. “Breakthroughs in proving intangible value of information governance to senior executives” Dr Ken Standfield, Chairman, The International Intangible Management Standards Institute, 0422428131 ken@standardsinstitute.org
2. Information Governance Your Expectations Your Real Needs Practical Application What Information Governance Initiatives, projects or daily activities are you currently working on? What new skills do you need What does 10/10 success look like for you personally?
3. Information Governance: Information Governance “Information governance is the specification of decision rights and an accountability framework to encourage desirable behaviour in the valuation, creation, storage, use, archival and deletion of information. It includes the processes, roles, standards and metrics that ensure the effective and efficient use of information in enabling an organization to achieve its goals.” Debra Logan, Research VP Gartner Decision Rights Specifications Accountability Framework Encourage desirable behaviour in the: Includes the: Valuation Creation Storage Processes Standards Use Archival Deletion Roles Metrics ... of information That ensure the effective and efficient use of information in enabling the organisation to achieve its goals
5. Getting Senior Executive Attention Let’s have a break In the past ... Business Case Tangible Benefit Quantified Intangible Benefit Described Knowledge improvement Now ... Business Case Tangible Benefit Quantified Intangible Benefit Quantified Knowledge improvement: $4m cost saving
7. Quick Overview: Scientific & Systematic Successful Valuation of Intangibles Time Savings: 10,000 hours via your Information Governance Initiative Wage Cost Rate:$80 / FTE Hour Productivity Rate:$160 / FTE Hour Information Governance Initiative Cost Savings: $800,000 Productivity Gain: $1,600,000 Time Saving: 10,000 hours
8. Practical ExampleHow you manage information matters ... AMAZON Inc. $32.64 B Cost FTEs: 33,700 Gross: $7.64 B $506.83 per org hour Time Money Profit $40.28 B $118.63 per org hour 64,400,700 organisational hours Revenue $625.46 per org hour 2x profitable Apple Inc. $46.84 B Cost FTEs: 46,600 Gross: $18.39 B $526 per org hour Time Money Profit $65.23 B 89,052,600 organisational hours $206 per org hour Revenue $732 per org hour
9. Practical Example AMAZON Inc. Profit Cost $118.63 per org hour $506.83 per org hour Apple Inc. Profit Cost $206 per org hour $526 per org hour
10. Core Knowledge: AS IS, TO BE, COULD BE (AS IS: 60 minutes a day spent on document and knowledge management) Let’s assume your organisation spends 60 mins/day/FTE on information and document related activities. IG has determined a project that will save 15 minutes per day by implementing more new technologies. Time Cost Analysis has revealed 20 minutes per day is a sustainable best thought practice level. Mins/FTE/day Time required to perform activity to a level of successful completion Best Practice Gap (It’s not part of everyday work, it’s an operational risk that needs to be mitigated ): 40 mins/FTE/Day 60 Targeted 15 min/FTE Project Benefit Operational Risk Ineffective Cost Wasted Time Lost Productivity 45 Residual (Latent) Project Benefit (25 mins/FTE) 20 Productivity Effective Cost Sustainability Best Thought Practices Capability Productivity in performing the activity AS IS (Current State) COULD BE(Best Thought Practice) TO BE (Project Scope)
11. Core Knowledge: AS IS, TO BE, COULD BE (AS IS: Takes 4 hours to manually convert a 350 page PDF document to a word document) In creating a requirements document, I needed to convert a 350 page PDF into a Word document, especially 70 pages of technical information which I needed to manipulate. To convert this manually would have taken around 4 hours (240 minutes). Using Adobe’s online converter it took 15 minutes. Now it would take 10 minutes. Mins/FTE Time required to perform activity to a level of successful completion Best Practice Gap (It’s not part of everyday work, it’s an operational risk that needs to be mitigated ) 240 Targeted Project Benefit 225 mins/FTE Operational Risk Ineffective Cost Wasted Time Lost Productivity 15 (5 mins/FTE) 10 Productivity Effective Cost Sustainability Best Thought Practices Capability AS IS (Current State) TO BE (Project Scope) COULD BE(Best Thought Practice)
12. Intangible Value & Project Benefits Time Losses cause Cost Wastage + Revenue Losses 1 2 Time Use by Activity Best Practice Gaps (Knowledge, Collaboration, Processes, Engagement) Operational Risk Quantification (Cost, Time, Revenue) 4 Project Benefits (Cost, Time, Revenue) Best Thought Practices (Operational Effectiveness) 3
13. Classifying Intangible Benefits OverallClassifications Start at the end IndividualClassifications One at a time Group: Explain your current IG work
22. Revisiting the ExampleSaving time saves costs and improves productivity Time Savings: 10,000 hours via your Information Governance Initiative Wage Cost Rate:$80 / FTE Hour Productivity Rate:$160 / FTE Hour Information Governance Initiative Cost Savings: $800,000 Productivity Gain: $1,600,000 Time Saving: 10,000 hours
25. How well did we do? Your Expectations Your Real Needs Practical Application What Information Governance Initiatives, projects or daily activities are you currently working on? What new skills do you need What does 10/10 success look like for you personally?
