Ken Standfield Information Governance Workshop

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Information Governance Presentation with a specific focus on valuing intangible benefits in information governance initiatives.

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Ken Standfield Information Governance Workshop

  1. 1. “Breakthroughs in proving intangible value of information governance to senior executives”<br />Dr Ken Standfield, Chairman, <br />The International Intangible Management Standards Institute, 0422428131<br />ken@standardsinstitute.org<br />
  2. 2. Information Governance<br />Your Expectations<br />Your <br />Real Needs<br />Practical Application<br />What Information Governance Initiatives, projects or daily activities are you currently working on?<br />What new <br />skills do you need<br />What does <br />10/10 success <br />look like for you personally?<br />
  3. 3. Information Governance:<br />Information Governance<br />“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<br />Decision Rights Specifications<br />Accountability Framework<br />Encourage desirable <br />behaviour in the:<br />Includes the:<br />Valuation<br />Creation<br />Storage<br />Processes<br />Standards<br />Use <br />Archival<br />Deletion<br />Roles<br />Metrics<br />... of information<br />That ensure the effective and efficient use of information in enabling the organisation to achieve its goals<br />
  4. 4. How do you measure intangible benefits?<br />
  5. 5. Getting Senior Executive Attention<br />Let’s have a break<br />In the past ...<br />Business <br />Case<br />Tangible Benefit<br />Quantified<br />Intangible Benefit<br />Described<br />Knowledge improvement<br />Now ...<br />Business <br />Case<br />Tangible Benefit<br />Quantified<br />Intangible Benefit<br />Quantified<br />Knowledge improvement: <br />$4m cost saving<br />
  6. 6. How to Quantify Intangible Benefits<br />
  7. 7. Quick Overview: <br />Scientific & Systematic Successful Valuation of Intangibles <br />Time Savings: 10,000 hours via your Information Governance Initiative<br />Wage Cost Rate:$80 / FTE Hour<br />Productivity Rate:$160 / FTE Hour<br />Information Governance Initiative<br />Cost Savings: $800,000<br />Productivity Gain: $1,600,000<br />Time Saving: 10,000 hours<br />
  8. 8. Practical ExampleHow you manage information matters ...<br />AMAZON Inc.<br />$32.64 B<br />Cost<br />FTEs: 33,700<br />Gross: $7.64 B<br />$506.83 per org hour<br />Time<br />Money<br />Profit<br />$40.28 B<br />$118.63 per org hour<br />64,400,700 organisational hours<br />Revenue<br />$625.46 per org hour<br />2x profitable<br />Apple Inc.<br />$46.84 B<br />Cost<br />FTEs: 46,600<br />Gross: $18.39 B<br />$526 per org hour<br />Time<br />Money<br />Profit<br />$65.23 B<br />89,052,600 organisational hours<br />$206 per org hour<br />Revenue<br />$732 per org hour<br />
  9. 9. Practical Example<br />AMAZON Inc.<br />Profit<br />Cost<br />$118.63 per org hour<br />$506.83 per org hour<br />Apple Inc.<br />Profit<br />Cost<br />$206 per org hour<br />$526 per org hour<br />
  10. 10. Core Knowledge: AS IS, TO BE, COULD BE<br />(AS IS: 60 minutes a day spent on document and knowledge management)<br />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.<br />Mins/FTE/day<br />Time required to perform activity to a level of successful completion<br />Best Practice Gap<br />(It’s not part of everyday work, it’s an operational risk that needs to be mitigated ): 40 mins/FTE/Day<br />60<br />Targeted 15 min/FTE<br />Project Benefit<br />Operational Risk<br />Ineffective Cost<br />Wasted Time<br />Lost Productivity<br />45<br />Residual (Latent) Project Benefit<br />(25 mins/FTE)<br />20<br />Productivity<br />Effective Cost<br />Sustainability<br />Best Thought Practices<br />Capability<br />Productivity in performing the activity<br />AS IS<br />(Current State)<br />COULD BE(Best Thought Practice)<br />TO BE<br />(Project Scope)<br />
  11. 11. Core Knowledge: AS IS, TO BE, COULD BE<br />(AS IS: Takes 4 hours to manually convert a 350 page PDF document to a word document)<br />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.<br />Mins/FTE<br />Time required to perform activity to a level of successful completion<br />Best Practice Gap<br />(It’s not part of everyday work, it’s an operational risk that needs to be mitigated )<br />240<br />Targeted Project Benefit<br />225 mins/FTE<br />Operational Risk<br />Ineffective Cost<br />Wasted Time<br />Lost Productivity<br />15<br />(5 mins/FTE)<br />10<br />Productivity<br />Effective Cost<br />Sustainability<br />Best Thought Practices<br />Capability<br />AS IS<br />(Current State)<br />TO BE<br />(Project Scope)<br />COULD BE(Best Thought Practice)<br />
  12. 12. Intangible Value & Project Benefits<br />Time Losses cause Cost Wastage + Revenue Losses<br />1<br />2<br />Time Use by Activity<br />Best Practice Gaps<br />(Knowledge, Collaboration, Processes, Engagement)<br />Operational <br />Risk Quantification<br />(Cost, Time, Revenue)<br />4<br />Project Benefits<br />(Cost, Time, Revenue)<br />Best Thought Practices<br />(Operational Effectiveness)<br />3<br />
  13. 13. Classifying Intangible Benefits<br />OverallClassifications<br />Start at the end<br />IndividualClassifications<br />One at a time<br />Group: Explain your current IG work<br />
  14. 14. Overall Classifications<br />
  15. 15. What Knowledge activities are you improving?<br />
  16. 16. What Collaboration activities are you improving?<br />
  17. 17. What Process activities are you improving?<br />
  18. 18. What Compliance activities are you streamlining?<br />
  19. 19. What Engagement activities are you improving?<br />
  20. 20. What Absence activities are you influencing?<br />
  21. 21. Creating Senior Executive Buy-in<br />
  22. 22. Revisiting the ExampleSaving time saves costs and improves productivity<br />Time Savings: 10,000 hours via your Information Governance Initiative<br />Wage Cost Rate:$80 / FTE Hour<br />Productivity Rate:$160 / FTE Hour<br />Information Governance Initiative<br />Cost Savings: $800,000<br />Productivity Gain: $1,600,000<br />Time Saving: 10,000 hours<br />
  23. 23.
  24. 24. Executive Briefing Pack <br />Ask for what you need > I will assist you<br />
  25. 25. How well did we do?<br />Your Expectations<br />Your <br />Real Needs<br />Practical Application<br />What Information Governance Initiatives, projects or daily activities are you currently working on?<br />What new <br />skills do you need<br />What does <br />10/10 success <br />look like for you personally?<br />
  26. 26. Next Stepsken@standardsinstitute.org (0422428131)<br />1<br />Business Case, Daily Work, Initiative, Preliminary Scoping<br />Tangible Benefit<br />Quantified<br />Intangible Benefit<br />Quantified<br />2<br />

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