Records Management and Information Management

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Questions and Answers

What was one of the primary issues identified during the gap analysis review regarding the knowledge of the records management policy?

Acquired businesses were following a unified global retention policy.

All business units had received comprehensive training on records management.

Employees were well-informed about the new retention schedule.

Staff in acquired businesses were unaware of the new global retention policy. (correct)

Which issue highlighted the lack of organization in records management across the company?

The existence of a comprehensive training program for records coordinators.

A reliable list of records coordinators was maintained and updated.

All business units had a standardized operational procedure for records management.

Multiple business groups used differing offsite storage accounts with varying prices. (correct)

What was a significant oversight regarding the legal hold process within the organization?

Legal holds were rarely implemented within the organization.

Legal holds were consistently managed across all business units.

All documents were disposed of immediately after a hold was released.

Inconsistencies existed in the legal hold processes across different types. (correct)

What challenge was posed by the frequent acquisitions within the organization?

Consideration for records management challenges was often overlooked. Signup and view all the answers

What was one of the main objectives to address the records management challenges identified?

To develop awareness and alignment with corporate records management requirements. Signup and view all the answers

What issue complicated the management of records across the organization during the transition?

The swift closure of multiple business locations. Signup and view all the answers

What critical need was highlighted regarding the role of records coordinators in the organization?

No significant training or recognition existed for the role of records coordinators. Signup and view all the answers

Which of the following best describes the state of the records management policy when Chris Bednar took over?

The inherited policy was incomplete and lacked awareness among staff. Signup and view all the answers

What was the primary goal of the new employee in building relationships across the organization?

To establish a community of records workers Signup and view all the answers

Which challenge did the new employee encounter regarding the existing records coordinators?

The list was outdated and incomplete Signup and view all the answers

During the first six months, what significant event did the new employee organize to enhance records management awareness?

A town hall virtual meeting for records management Signup and view all the answers

What was one of the first actions taken by the new employee regarding the corporate records policy?

Creating a SharePoint site for consistent policy access Signup and view all the answers

What outcome did the employee expect from forming an informal group of passionate individuals in records management?

To enhance information governance as a unified organization Signup and view all the answers

How did the new employee gather information about the existing records coordinators?

By using a distribution list and HR system reports Signup and view all the answers

What led to the need for a more organized approach to vendor control in storage management?

The disorderly management resulting from previous hands-off approaches Signup and view all the answers

What was a recurring theme highlighted in the meetings conducted by the new employee for records coordinators?

Sharing experiences and best practices in records management Signup and view all the answers

Which fields did the employee primarily engage with when building relationships within the organization?

Legal, IT/Security, privacy, and risk Signup and view all the answers

What essential function was included in the SharePoint site created by the new employee?

Links to training materials and external vendor resources Signup and view all the answers

What was the primary expectation when reviewing contracts and pricing with vendors?

To achieve a savings of 25 percent or higher Signup and view all the answers

What significant change was made to the integration management playbook?

Inclusion of a section on information management functions Signup and view all the answers

Which of the following outcomes was NOT mentioned as a result of the implemented approach?

Increase in documentation confusion among staff Signup and view all the answers

What was a key component of the Information Governance Council's charter?

To implement cost and risk reduction opportunities Signup and view all the answers

Which area did the company specifically aim to consolidate through its information management efforts?

Global retention and information management policies Signup and view all the answers

What major challenge did the company face that complicated its information governance?

Rapid growth through acquisitions without standardization Signup and view all the answers

What was one consequence of the VP of Litigation's retirement?

Leadership consolidation within legal functions Signup and view all the answers

What was identified as a crucial element that information governance contributes to a company?

Reduction of risks and savings Signup and view all the answers

What lesson was learned regarding C-suite leaders' perceptions of information governance?

It is not considered a strategic organizational role Signup and view all the answers

What impact did the new operating procedures have on information management?

Streamlined processes across multiple departments Signup and view all the answers

Study Notes

Records Management Policy Transition

Inherited a records management policy from a retiring Director at a large life sciences organization, created under tight deadlines.
A global retention schedule was developed with input from litigation lawyers and a retention vendor, but implementation lacked thorough socialization across business units.

Identified Issues

Employees in acquired businesses were unaware of the new global retention policy and followed outdated procedures.
Lack of reliable records coordinators due to outdated lists, along with no training or recognition for their roles.
Multiple offsite storage accounts with inconsistent pricing among various vendors.
Frequent organizational changes (acquisitions, closures) occurred without addressing records management implications.
Inconsistent legal hold processes and poor disposal practices once holds were released.

Importance of Awareness and Alignment

Raised awareness and alignment with corporate records management requirements were paramount to mitigate risks, reduce costs, and ensure compliance with audits.
Engaged with various organizational levels to build a community supportive of improved information management practices.

Networking and Community Building

Initiated connections with leaders in legal, IT, privacy, and risk management to establish monthly check-ins for collaborative information management.
Created a centralized SharePoint site to ensure access to updated records management policy and retention schedule while eliminating outdated versions.

Identification of Records Coordinators

Updated outdated records coordinators list, which initially missed 800 locations and included many former employees.
Conducted town hall meetings to engage over 200 employees, fostering discussions on retention schedules and legal holds, and sharing best practices.

Storage Vendor Management

Disorganized vendor control with over 150 accounts leading to inconsistent pricing and retention practices.
Collaborative review of vendor contracts aimed at achieving at least 25% savings by consolidating accounts.

Integration with Acquisition and Real Estate Teams

Coordinated with Integration Management Office to embed information management functions in merger processes.
Established site closing procedures with real estate operations to ensure information needs were considered during transitions.

Achievements and Impact

Efforts led to updated policies, consolidated systems, and an identified savings of over $400,000 through improved vendor management.
Enhanced policy awareness and decreased confusion regarding multiple documents across business units.

Leadership Changes and Challenges

Faced challenges following the retirement of the hiring manager and subsequent consolidation of legal functions, which impacted my role.
Experienced organizational upheaval despite successful performance and contributions, underscoring the lack of recognition for information governance as a strategic necessity.

Conclusion and Recommendations

Rapid growth through acquisitions created a convoluted records management landscape that required consolidation and improved governance practices.
Established an Information Governance Council to unify efforts across departments (Legal, IT, Privacy, Risk Management) for better compliance and operational efficiency.
Advocated for recognition of information management roles as strategic rather than administrative and suggested that professionals in the field work towards title changes to enhance perception and influence within organizations.

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Description

Explore the process of transforming a records management policy into a comprehensive information management program. This quiz delves into strategies, challenges, and solutions related to effective information governance in large organizations.