Wednesday, March 29, 2006

Records Management is a Must These Days

We have seen such a surge in requests for best-practices in records management in response to corporate law suits and Governmental regulation (SOX), we've commissioned a consortium benchmarking project on the topic (http://www.apqc.org/studies).

It seems there are many organizations out there trying to figure out how to get their hands around managing all of the information within their organization to ensure they can adequately respond to law suits and requests from the Government. How much is enough to have "responded"? How much is too much? How do you balance the request with the cost or impact to the organization? How do you minimize the cost of "eDiscovery"?

Let me know your thoughts. If you feel your organization may be best practice, we'd love to screen you for this project, as well.

4 comments:

Dale Arseneault - Bank of Canada said...

Hi Ron.. as a public sector, crown corporation owned by the Canadian Government, we have to respond to inquiries from the government and public inquiries, while adhering to information management policies and legislation like Access to Information and Privacy. The scope and breadth of a response is fairly clear. What is a real challenges is minimizing the work required to respond completely and effectively so as to not impact regular work too much. Certainly one of the real challenges many organizations that have been around for a while is to transition organizationals tructures, staff capabiltiies and technology from paper based records management to electronic based. Uncovering best practices will no doubt be possible, but uncovering a best practice organization will likely be hard work.

Jim Lee, PMP said...

Dale,

Great point. We are going to use all of our standard practices to find organizations that would have a story to share. With a topic like this, there may not be a clear best practice established yet. That is part of what we want to do. We want to help find, understand, and document the leading edge approaches to this issue. We'll use secondary research (a lot of stories about organizations that are experiencing the worst case when it comes to litigation and regulation), our members (if you have some suggestions, please let me know), and our Subject Matter Experts for this project (Mark Kindy - Senior Managing Director for FTI’s Forensic and Litigation Consulting Practice and Tim Donovan - a former Senior Vice President and General Counsel of a global technology corporation).

Obviously, we may run into organizations that are reluctant to discuss litigation practices since they may feel this will call attention to strategy for litigation, but in light of the upcoming Federal rule changes in the US, those practices will be available to their adversaries in litigation. Since disclosure is both required and inevitable, our subject matter experts believe this forum will be a more constructive forum for discussion and possible vetting of those processes and provide more assurance to an organization as to the integrity of plans and processes.

Thanks for the comment. Hope this helps.

Dale Arseneault - Bank of Canada said...

Ron.. on the subject of good records management practices.. did you notice that some of Wesley's posts have now been relabled so that they appear to have been written by you?

If corporate records systems took this approach, there is no telling what the revisionist imagination could accomplish! ;-)

Jim Lee, PMP said...

Dale,

Wish blogger gave me the option of keeping Wes' posts attributed to him. Trust me, I'm not that smart! :)