ken standfield information governance workshop

Dr. Ken Standfield, Chairman, The International Intangible Management Standards Institute, [email protected]

“Breakthroughs in proving intangible value of

information governance to senior executives”

Dr Ken Standfield, Chairman, The International Intangible Management Standards Institute, [email protected]


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?


Decision Rights Specifications

Information GovernanceAccountability Framework

Encourage desirable behaviour in the:

Valuation Creation Storage

Use Archival Deletion

... of information

Includes the:

Processes Standards

Roles Metrics

Information Governance:

That ensure the effective and efficient use of information in enabling the organisation to achieve its goals

“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


How do you measure intangible benefits?


Getting Senior Executive Attention

Business Case

Tangible Benefit

Quantified

Intangible Benefit

Described

In the past ...

Now ...

Business Case

Tangible Benefit

Quantified

Intangible Benefit

Quantified

Knowledge improvement

Knowledge improvement: $4m cost saving

Let’s have a break


How to Quantify Intangible Benefits


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

Cost Savings: $800,000

Productivity Gain: $1,600,000

Time Saving: 10,000 hours

Information Governance Initiative


Practical ExampleHow you manage information matters ...

Time Money

Cost

Revenue

AMAZON Inc.

$40.28 BProfit

Gross: $7.64 B

$32.64 B

FTEs: 33,700

$625.46 per org hour


$118.63 per org hour64,400,700 organisational hours

Time Money

Cost

Revenue

Apple Inc.

$65.23 BProfit

Gross: $18.39 B

$46.84 B

$732 per org hour

$526 per org hour

$206 per org hour

FTEs: 46,600

89,052,600 organisational hours

2x profitable


Practical Example

AMAZON Inc.Profit


Apple Inc.Profit

$206 per org hour

Cost


Cost

$526 per org hour


Core Knowledge: AS IS, TO BE, COULD BE(AS IS: 60 minutes a day spent on document and knowledge management)

Time required to perform activity to a level of successful completion

Productivity in performing the activity

60

Mins/FTE/day

45

20

Targeted 15 min/FTEProject Benefit

Residual (Latent) Project Benefit(25 mins/FTE)

Operational RiskIneffective CostWasted TimeLost Productivity

AS IS(Current State)

TO BE(Project Scope)

COULD BE(Best Thought Practice)

Best Practice Gap(It’s not part of everyday work, it’s an operational risk that needs to be mitigated ): 40 mins/FTE/Day

Capability

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.

SustainabilityBest Thought Practices

ProductivityEffective Cost


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)

Time required to perform activity to a level of successful completion

240

Mins/FTE

15

Targeted Project Benefit

225 mins/FTE

(5 mins/FTE)

Operational RiskIneffective CostWasted TimeLost Productivity

AS IS(Current State)

TO BE(Project Scope)

COULD BE(Best Thought Practice)

Best Practice Gap(It’s not part of everyday work, it’s an operational risk that needs to be mitigated )

Capability

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.

ProductivityEffective Cost

10SustainabilityBest Thought Practices


Intangible Value & Project BenefitsTime Losses cause Cost Wastage + Revenue Losses

Time Use by Activity

Best Practice Gaps

(Knowledge, Collaboration, Processes, Engagement)

Best Thought Practices

(Operational Effectiveness)

Operational Risk Quantification(Cost, Time, Revenue) Project Benefits

(Cost, Time, Revenue)

1 2

3

4


Classifying Intangible Benefits

OverallClassifications

Start at the end

IndividualClassifications

One at a time

Group: Explain your current IG work


Overall Classifications


What Knowledge activities are you improving?


What Collaboration activities are you improving?


What Process activities are you improving?


What Compliance activities are you streamlining?


What Engagement activities are you improving?


What Absence activities are you influencing?


Creating Senior Executive Buy-in


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

Cost Savings: $800,000

Productivity Gain: $1,600,000

Time Saving: 10,000 hours

Information Governance Initiative


Executive Briefing Pack Ask for what you need > I will assist you


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?


Next [email protected] (0422428131)

Business Case, Daily Work, Initiative,

Preliminary Scoping

Tangible Benefit

Quantified

Intangible Benefit

Quantified

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