BSBINS601 Learner Guide PDF

BSBINS601 Manage knowledge and information Learner Guide First published 2021 RTO Works www.rtoworks.com.au [email protected] 0452 157 557 © 2021 RTO Works This resource is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review a...

BSBINS601 Manage knowledge and information Learner Guide First published 2021 RTO Works www.rtoworks.com.au [email protected] 0452 157 557 © 2021 RTO Works This resource is copyright. Apart from any fair dealing for the purposes of private study, research, criticism or review as permitted under the Copyright Act 1968, no part may be reproduced by any process without written permission as expressed in the RTO Works License Agreement. The information contained in this resource is, to the best of the project team’s and publisher’s knowledge true and correct. Every effort has been made to ensure its accuracy, but the project team and publisher do not accept responsibility for any loss, injury or damage arising from such information. While every effort has been made to achieve strict accuracy in this resource, the publisher would welcome notification of any errors and any suggestions for improvement. Readers are invited to write to us at [email protected]. Business Works is a series of training and assessment resources developed for qualifications within the Business Services Training Package.  Contents Overview 4 Topic 1: Collecting business information 5 Topic 2: Analysing information and knowledge 16 Topic 3: Rectifications for business issues 22 Topic 4: Distributing information 29 BSBINS601 Manage knowledge and information | 3  Overview The Student Guide should be used in conjunction with the recommended reading and any further course notes or activities given by the trainer/assessor. Application of the unit This unit describes the skills and knowledge required to develop and maintain information and data systems to support decision making, and to optimise the use of knowledge and learning throughout the organisation. The unit applies to individuals who are responsible for ensuring that critical business information is readily available to review the organisation’s performance and to ensure its effective functioning. It applies to a wide range of information assets such as business performance data, customer feedback, statistical data and financial data. No licensing, legislative or certification requirements apply to this unit at the time of publication. Learning goals Learning goals include:  You are able to collect relevant business information.  You are able to analyse information and knowledge.  You are able to decide rectification for business issues.  You are able to distribute information to the organisation. BSBINS601 Manage knowledge and information | 4  Topic 1: Collecting business information For the first topic we will be looking at the activities relating to collecting relevant business information for information and knowledge management. This includes reviewing feedback and business performance data, identifying, defining and analysing business issues, identifying information required to reach decisions on issues, sourcing and collecting relevant and reliable information, confirming the reliability and validity of information and rejecting contradictory or ambiguous information and finally consulting with relevant stakeholders and collecting and reviewing relevant knowledge. Information and knowledge management systems Organisations develop information and knowledge management systems so that relevant information and corporate knowledge are retained, accessible and subsequently can improve business outcomes. Information management is about managing an organisation's information resources to improve the performance of the organisation. Knowledge management is about the processes of acquiring, capturing, creating, sharing and using knowledge to enable learning in organisations. Information management systems (IMS) An information management system facilitates the collection, storage, organisation, management and retrieval of data. It is used to improve the efficiency of process, compliance, regulations as well as providing technology solutions. An organisation will have a number of different technologies, systems, processes and software that can make up an information management system. It helps reduce duplication of data and provides continuity and access to centralised points of information. Some examples are:  Learning management systems.  Database management systems.  Office information systems.  Decision support systems.  Customer Relationship management. The purpose of an IMS is to turn raw data into useful information that can be used for decision making in an organisation. Many information systems are designed to support a particular process within an organisation or to carry out very specific analysis. Functional information systems that support a specific organisational function, such as advertising or production, have been succeeded in many cases by cross-functional systems built to support complete business processes, such as order processing or employee management. BSBINS601 Manage knowledge and information | 5 Knowledge management systems (KMS) A knowledge management system supports information and knowledge sharing, collaboration through the creation, organisation and management of information. Some examples are document management, content management, data warehouses, databases, intranets, Wikis, social networking platforms. The purpose of a successful knowledge management system is to:  Share knowledge and information  Avoid redundancy  Prevent duplication of effort  Increase productivity  Support decision making  Providing reliable and secure information Mostly a KMS objective is to ensure the right information is delivered to the appropriate person or place at the right time to support informed decision making. A successful KMS not only helps employees to avoid redoing work, but also introduces synergies because of complementary activities that can be taken from the system and supplemented with work that is specific to the project. Activity: Read Read the following overview of knowledge management: https://www.cleverism.com/how-to-implement-knowledge-management-system/ Read the following information on information management vs knowledge management: https://www.knowledge-management-tools.net/IM_vs_KM.php Take any notes to summarise what you have read and keep for future reference. Activity: Watch Watch this video, which identifies the importance of knowledge management in an organisation. Video: https://www.youtube.com/watch?v=k3jo7oWzUUc&feature=youtu.be (04:47) Watch this video to see an example of a new emerging digital Xerox’s new knowledge management system. Video: https://youtu.be/r69NvOT6xtQ (02:40) Write down any key takeaways. BSBINS601 Manage knowledge and information | 6 Managing knowledge and information can be achieved through management information systems (MIS) and decision support systems (DIS) which have the following common key features: Data The most important feature of any information management system is its ability Management: to store data and to make that data available to the system’s users. The database that a company uses determines how their information management system will respond to requests for information. Reports: The ability to produce information that helps in a decision-making process is a key feature of an information management system. Most information management systems provide a variety of reports while with others specific reports can be custom-tailored to a company’s needs. Open access: This means that a company can easily integrate their information management system with existing systems. This enables a company to comply with both external regulations and internal requirements. Integration: Information management systems should be fully integrated with a company’s existing data management systems. This allows a company to maintain the information technology investments that it has already made. Scalability: Not all companies require everything that information management systems require. A scalable system gives a company the possibility to grow without losing its original information management system investment. With the development and continual advances in technology, along with the advent of using cloud technology, there are many existing and emerging technologies used in knowledge and information management. The following are a few examples:  Emerging technologies used in knowledge and information management: Collaboration tools: these are becoming easier to use and more important than ever. Connecting team members can be a challenge when staff working remotely. An example is social intranet software, which allows individuals to work on documents and communicate with each other in real time. Visuals: are becoming more versatile and are replacing lists. Early versions of knowledge management software featured long lists, elaborate file names, average functionality, and images were seldom used. The visual aspect of knowledge-based software is evolving, and increasingly relies on images to help users navigate. Text-based lists are being replaced with images when files are being searched for.  Existing technologies used in knowledge and information management: Content Repository: these tools allow users to manage and share knowledge content. For many years knowledge management repositories were basically document management software. Today, more companies prefer tools that can manage a diverse range of content such as documents, web content, software. Content Management Systems and Cloud Content Management are two examples of this. BSBINS601 Manage knowledge and information | 7 Communication Tools: these communicate knowledge and can be used to capture the knowledge generated by communication. This can include a number of tools such as email, chatting, instant messaging, speech recognition, telephone, video conferencing and others. Unified communications tools integrate communications into a single user experience. In order to be efficient and competent in managing knowledge and information, the use of appropriate digital technologies need to be utilised in order to manage business operations and perform statistical analysis and calculations on data. Activity: Research Divide into pairs for this activity. You work for a research department at a university. You have been asked to research one existing and one emerging technology currently used for knowledge and information management. The department would like to share collected research information with the university’s other research departments at different campuses across the state. Note down:  the name of the technology and its use.  a summary of how the technology supports knowledge and information management for an organisation.  a screenshot, screen recording, example, demo or link demonstrating at least four features of the technology. You will then showcase one of the technologies researched in a group presentation facilitated by your trainer/assessor. For the presentation:  Formulate your written research into a format that can be presented to a group of senior managers for consideration for future information and knowledge management systems.  Ensure the information is organised, easy to understand, uses a professional format and writing style suitable for the audience, uses formal conventions for written information and presentations and presented using formal language, tone and pace. At the end of the presentation, encourage discussion, applying appropriate listening and questioning techniques to elicit opinions and engage in consultation. The purpose is to determine how useful the technology would be for the university. You can make any reasonable assumptions, but you must write these down. Ensure that you plan and manage your activity so that it is delivered within the timeframes allocated and achieving the outcomes expected. Your trainer/assessor will arrange a suitable time for the presentations, facilitate the discussion and provide your group with feedback. BSBINS601 Manage knowledge and information | 8 Reviewing feedback and performance data Before you can develop information and data systems to support decision making and make the most of knowledge and learning throughout an organisation, you need to collect relevant business information. Reviewing data collected from staff and customer feedback, and business performance data, can provide the necessary statistics used to measure key performance indicators, which can provide the necessary information to make management decisions about changes, adjustments, improvements, or modifications to current systems or processes. Business performance management involves reviewing the overall business performance and determining how the business can better reach its goals. Business performance data uses results to monitor how an organisation’s efforts are aligning to the overall business objectives. Staff and customer feedback can be obtained from a range of sources such as:  Surveys  Website analytics  Emails  Comment boxes  Online contact forms  Online reviews  Usability testing  Focus groups.  Social media channels Reviewing feedback can provide data for: Improving performance management Identification of possible improvement areas Making informed management decisions Analysing problems and issues Activity: Read Read the following article on types of performance data: http://www.zeromillion.com/business/6-types-of-performance-data/ Take any notes to summarise what you have read and keep for future reference. BSBINS601 Manage knowledge and information | 9 Analysing business issues From the collected business performance data, any business issues can be identified, analysed and defined. When analysing problems or issues, an organisation may be looking at different areas such as overspending in a certain department, reducing waste, under performance of employees, customer service or quality of services and products delivered. There may be several issues that are affecting business performance, which could need prioritising, as some may be more urgent or have the biggest consequence if not addressed. The 80-20 Rule (Pareto Principle) asserts that 80% of outcomes/outputs, result from 20% of all causes (or inputs) for any given event. The core principle of the 80-20 rule is to identify an entity’s best assets and use them efficiently to create maximum value. Once priorities have been established then the next step would be to analyse any symptoms to find possible causes. In some situations, the cause may be known, but the solution may not be as simple. This could mean that decision makers will need to brainstorm to develop options and approaches for alternatives. Activity: Watch Watch to find out more on the Pareto Principle. Video: https://www.investopedia.com/terms/1/80-20-rule.asp (02:23) Write down your key takeaways. Activity: Read The following article explains why an organisation should review their business performance: https://m.infoentrepreneurs.org/en/guides/review-your-business-performance/ Take any notes to summarise what you have read and keep for future reference. Information needed to reach decisions Decisions for the best options will need to be made and this may require looking at different factors such as:  Associated costs or budgets  Technical factors such as hardware or software equipment and training  Human resources needed  Any risks. BSBINS601 Manage knowledge and information | 10 The following are the key steps of the decision-making process: Identify the decision: Gather Decide relevancy: determine what is the opportunity data/information: so what information is relevant or problem and should that a decision is based to the decision. it be addressed. on facts and data. Identify alternatives: what are the options to Weigh up the evidence: is it determine which course of action is the best feasible? Select the option that has way to achieve the objective? the best chance of success. Take action: create Understand the risks: Review: evaluate if the decision a plan for select alternatives if the was effective and what could be implementation on risks are too great. improved next time. the decision. If you consider an issue such as: Staff are not producing the same amount of output this year as they did last year. The information gathered must be relevant so that the decision can be effectively informed. For example, data collected and analysed could show that the previous year, less staff were absent, and so outputs were much greater. The information needed may be to ask such questions as “Why”? This means looking at various sources of data such as staff records, figures for previous years absenteeism, if outputs were affected by outside sources, any environmental or political factors, or surveys and exit interviews. All the information identified will support making an informed decision on the issues analysed. Sourcing and collecting information The information required to reach a decision on any problems or issues should be relevant and reliable. Information can be either from external or internal sources. Internal sources come from within an organisation such as records, documents, internal communications, statistics and data. External sources of information can be collected from outside the organisation such as government bodies, professional industry, competitors and customers. BSBINS601 Manage knowledge and information | 11 Some examples are:  Manual data collection  Surveys  Reports  Social media analytics  Feedback forms  Employee records  Software tracking  Interviews  Documentation and records  Mapping and indexing knowledge assets.  Databases In all cases, the information must be relevant and reliable. For example, if you are accessing data from a database where records have not been maintained or updated, then the information that you are obtaining may not be relevant or reliable. Furthermore, sources of information can come from quantitative and qualitative data and primary and secondary sources: Numeric variables for example, how many, how much, or how often. Quantitative data: Measures of values or counts expressed as numbers. Examples are statistics, polls or collected raw data. Measures of types and may be represented by a name, symbol, or a code. Qualitative data: Categorical variables such as what type. Examples are interviews, written emails or images and videos. Direct or firsthand evidence including statistics, surveys, blogs, Primary sources: interviews. Interpretations and analysis that is based on primary sources, Secondary sources: such as articles, reports, or journals. Activity: Read Qualitative data: https://cirt.gcu.edu/research/developmentresources/research_ready/ qualitative/validity Quantitative data: https://cirt.gcu.edu/research/developmentresources/research_ready/quantre search/keyissues Why quantitative and qualitative data is important: http://www.abs.gov.au/websitedbs/a3121120.nsf/home/statistical+language+- +quantitative+and+qualitative+data BSBINS601 Manage knowledge and information | 12 Checking the quality of information The next step in the collection of relevant and reliable information is to confirm that it is in fact reliable and valid. Any information that does not meet this criteria or is contradictory or ambiguous should be rejected, so that the information is of quality. The quality of information has five characteristics, it should be: Accurate Timely Complete Reliable Consistent Integrity of data and information should be tested for reliability and validity. If the quality of the information is poor then the business decisions made, which are based on the collection of the information could be detrimental to the organisation and its ability to make accurate and reliable decisions. Information could be collected from incorrect sources, inaccurate sources, out of date sources, sources that are not reliable, sources that are incomplete or inconsistent. Any information that is not of quality should be rejected, especially if it is contradictory or ambiguous. The ambiguity effect is where decision making is affected by a lack of information or ambiguity. It implies that options may be selected for which the probability of a favourable outcome is known, over an option for which the probability of a favourable outcome is unknown. Data analysis: Validity and reliability Data accuracy is a component of quality data and refers to whether the data values are correct. Activity: Read Read more on data analysis validity and reliability: Tutorial: http://etutorials.org/Misc/data+quality/Part+I+Understanding+Data+ Accuracy/Chapter+2+Definition+of+Accurate+Data/2.3+Data+Accuracy+Defined/ Article: http://learntech.uwe.ac.uk/da/Default.aspx?pageid=1429 Take any notes to summarise what you have read and keep for future reference. Activity: Discuss Reflect on online forms that you may have completed to register or apply for jobs, apps, clubs or web services. What do you think is used to ensure the quality of data? Consider the structure of the form, the database running the back end and validation. Your trainer/assessor will facilitate a discussion. BSBINS601 Manage knowledge and information | 13  Activity: Read Quality of a database: http://www.computerbusinessresearch.com/Home/database/five-characteristics-of- high-quality-information Quality of data collection https://ori.hhs.gov/education/products/n_illinois_u/datamanagement/dctopic.html Take any notes to summarise what you have read and keep for future reference. Consulting with stakeholders By consulting with relevant stakeholders, you can collect further relevant knowledge that may not be formally captured. Stakeholders may be anyone using the system, managing or controlling information and knowledge in and out of the system, key decision makers or admin and security workers. An organisation’s formal and informal networks can be used to access this type of knowledge, such as departmental reports or information from a person’s memory. For example: Mary, head of accounts, knows that Mr Kahn always pays his invoice 3 weeks late, but this is overlooked as he is a long standing client and always settles his bill within this time. This is not formally input into any systems. There is also knowledge that could be useful information but not formally shared. An example could be informal discussions in meetings that may provide information that is not formally input into a system because it was just a passing comment. However, the passing comment maybe well known by employees and could greatly affect decision making if known. Accessing stakeholder knowledge or memory not held in formal systems can be through:  gathering employee feedback from surveys, interviews, forums or online discussions  accessing former documentation  collaboration through knowledge sharing strategies  promoting a culture of knowledge sharing. Activity: Read Read the following article on corporate knowledge: http://www.aiai.ed.ac.uk/~alm/kam.html BSBINS601 Manage knowledge and information | 14 Read the following article on the effect of corporate knowledge loss: https://www.thecompetencygroup.com/blog/the-effect-of-corporate-knowledge-loss/ Take any notes to summarise what you have read and keep for future reference. Activity: Discuss How reliable is social media for the quality of information? If you were collecting information from surveying customer feedback, how do you know if the information collected is reliable? How can you ensure a database has relevant and reliable information? Write a small survey to collect information from university lecturers to find out information on the standard of behaviour and commitment of students for their current cohort so that this can be compared for the following year. You could use www.surveymonkey.com to create the survey. Use different sources of information and secondary research to illustrate your findings. Type up your responses and share in discussions facilitated by your trainer/assessor. Activity: Report Research the internal and external information sources that could be used in collecting knowledge and information for an organisation that relates to implementing sustainability practices in work processes. Identify at least three relevant external sources of information and four internal sources of information. How could you capture knowledge within the organisation? What qualitative and quantitative data sources could be used to determine the current practices in the organisation? Write this information up in a report. Your report should be between 1–2 pages long and be written in clear and concise English. Submit your report to your assessor trainer/assessor for feedback. BSBINS601 Manage knowledge and information | 15  Topic 2: Analysing information and knowledge This topic covers analysing information and knowledge including creating clear, relevant and consistent objectives for analysis, identifying and interpreting patterns and emerging trends, interpreting statistical analyses, using sensitivity analysis on relevant options, documenting an approach to analyse information and knowledge and finally adjusting information and knowledge management decision support systems. Image by Stephen Dawson on Unsplash Objectives for analysis To analyse information, you must create clear, relevant and consistent objectives, according to any organisational requirements. A knowledge management strategy describes how an organisation manages information and knowledge to benefit the organisation and stakeholders. The knowledge management strategy should be aligned with the overall strategy and objectives of the organisation and include:  Strategy and objectives  The knowledge-based business issues  Current available knowledge resources  Analysis of how these can be used. Objectives for analysis should be clearly stated, relevant and consistent, using SMART objectives: Specific Measurable Achievable Relevant Timely This ensures that there is consistency across the organisation. For example, an objective could be to look at improving staff performance: Reduce the number of staff taking leave of absence by 30% over the next two years. BSBINS601 Manage knowledge and information | 16  Activity: Practical Review the information at the following link to complete the activity: https://www.smartsheet.com/blog/essential-guide-writing-smart-goals Your trainer/assessor will facilitate a discussion so that you can provide feedback on how you completed the task. Patterns and emerging trends Part of analysing information and knowledge will be to identify and interpret any patterns or emerging trends. For example, the identification of patterns could be through analysing employee record data for the number of sales achieved per month over 3 months. Patterns emerging could be to show that the younger employees are achieving higher sales or the location of branches have an effect on employee’s sales. Emerging trends could show that more people are using social media feedback surveys than the usual ones emailed at the end of each sale. The analysis of data, information and knowledge can identify patterns and emerging trends by using:  spreadsheet functions to analyse data  the interpretation of data  statistical analysis  the interpretation of information  cause and effect data analysis  primary/secondary research. This provides further information that can be used to support decision making. An organisation’s requirements could relate to complying to legislation and regulation compliances such as workplace health and safety or privacy and security of data and information; organisational processes, policies and procedures that determine how data is sourced, collected, analysed, stored and distributed; or for example the type of information and knowledge need to solve issues and problems such as recruitment and selection or staff performance issues. Activity: Practical Spreadsheet functions can be used to analyse patterns and trends. Use the following link for a range of activities that can be completed: https://www.thinkreliability.com/root-cause-analysis-tools/cause-mapping-template/ Save the activities that you complete. Your trainer/assessor will facilitate the activity and provide you with support for learning the spreadsheet functions. If you are using a different application then try to find a similar tutorial or ask your trainer/assessor for further support if needed. BSBINS601 Manage knowledge and information | 17 Statistical analysis Statistical analysis can be used to aid decision making by establishing numerical benchmarks and providing patterns and trends for analysis. It is important to note that any statistical analysis must be followed up with interpretation, in an easily understandable format for decision makers. For example, statistical analysis may be presented as a graph with an explanation of the findings. The methods commonly used in for statistical analysis to aid decision making are outlined in the following table: Correlation calculations The correlation coefficient is used to measure the strength and direction of the linear relationship between two numerical variables X and Y. The correlation coefficient for a sample of data is denoted by r. Correlations can be used to predict the future of a business direction. If a correlation can be made between the behaviour of consumers and events and a particular type of product or service, this can be used to target audiences and to boost business. Short To Medium-Term Term and Long-Term Trend Analyses Trend analysis attempts to predict coming trends based on recently observed trend data. It is based on the idea that what has happened in the past can give an idea of what will happen in the future, and business decisions can be based on this. There are three main types of trends: short-, intermediate- and long-term. Short term trend analysis us based on trends predicted over a very short period of time, such as days or weeks. Intermediate trend analysis is based on trends over months and long-term trend analysis analyses trends over years and decades. Probability Assessment Probability assessment predicts the most likely outcome based on a range of probabilities. It is used to ensure that decisions are based on the most likely outcomes. Dynamic Programming Dynamic programming is a technique whereby a complex problem is broken down into a number of simpler subproblems. Each of the subproblems is solved individually, and their solutions are used to make decisions about the original, complex problem. Linear Programming Linear programming is a method that is used to determine what the optimal scenario would be when the final goal and the conditions are all linear. For example, it can be used to determine which combination of products and services is most profitable, or which mode of transport is the least expensive. BSBINS601 Manage knowledge and information | 18 Queuing Theory Queuing theory focusses on the congestion and delays of waiting in line. It examines every component of waiting in line, including arrival, service, the number of servers, and the number of subjects. Queuing theory can help users make informed business decisions on how to build the most efficient and cost-effective workflow systems. It can be used for determining how to provide faster and better customer service, improve traffic flow, or how to most efficiently ship orders. Simulation Simulation involves going through actions and consequence in a structured environment. It offers an insight into a wide scale of possible outcomes and chances, and this knowledge can then be used to come to the correct decision. Activity: Tutorials Undertake the following tutorials to support your learning of statistical analysis. Simulation tutorial: https://www.solver.com/simulation-analysis#Statistical_Measures Statistics and data analysis. Tutorial: https://www.youtube.com/watch?v=XbHeCL_8UhA (01:05) Statistics for beginners: tutorial for data analytics. Video: https://www.youtube.com/watch?v=oyBL9EYpK-4 (01:04) Statistics tutorials: Beginner to advanced: https://www.listendata.com/p/statistics-tutorials.html Your trainer/assessor will facilitate the activity and provide you with support for learning statistical analysis. If you are using a different application, then try to find a similar tutorial or ask your trainer/assessor for further support if needed. Activity: Read The Australian Bureau of Statistics (ABS) provides a number of statistics in industry that can be used by organisations to help with decision making: https://www.abs.gov.au/Business-Indicators BSBINS601 Manage knowledge and information | 19 Sensitivity analysis Applying statistical analysis, sensitivity analysis and other techniques are very useful to draw conclusions relevant to decisions. A sensitivity analysis is used to assess how different values of an independent variable affect a particular dependent variable under a given set of assumptions. Activity: Read Review the case studies at the following link for examples of sensitivity analysis: https://www.investopedia.com/terms/s/sensitivityanalysis.asp https://corporatefinanceinstitute.com/resources/knowledge/modeling/what-is- sensitivity-analysis/ Your trainer/assessor will facilitate the activity. Activity: Watch Watch the following video on sensitivity analysis (Business forecasting). Video: https://www.youtube.com/watch?v=56-iiZEjqnU (07:52) Write down your key takeaways. Documentation Documentation of analysis should be recorded, structured and presented in a readable format that shows a logical approach to the evaluation of evidence and any conclusions drawn. It supports decision making by providing all the necessary information in a clear and structured manner. Any spreadsheet analysis, graphs, reports, collected data and supporting documentation should be integrated or linked to the documentation to also support the decision-making process. Activity: Read Read the following article on documenting analysis in reports: https://www.examples.com/business/write-an-evaluation-report.html Take any notes to summarise what you have read and keep for future reference. BSBINS601 Manage knowledge and information | 20 Making adjustments Mostly the objective of an information and knowledge management decision support system is to ensure the right information is delivered to the right people or place at the right time to support informed decision making. A successful information system not only helps employees to avoid redoing work, but also introduces synergies because of complementary activities that can be taken from the system and supplemented with work that is specific to the project. Analysing business processes can help to determine how well a certain process works. It includes:  Analysing the process  Reviewing  Deciding on changes to make improvements  Implementing the improvements A business process can be defined as a sequence of tasks that after they are performed results in a well-defined outcome. It represents work that is performed within the context of an organisation. Business process tools and techniques include:  Flowcharts representing inputs, outputs and processes of activities or data flows  Functional flow block diagram which is used to describe requirements in function terms, such as equipment or training or software.  Control flow diagrams used to help describe the normal flow of a process with limits and constraints.  Gantt Chart to visually communicate timelines, and relationships between activities  PERT diagrams to identify the minimum amount of time needed to complete a project  IDEF diagrams – methods designed to capture a type of information through modelling processes. A decision support system helps managers to make informed decisions using statistical projections from analysed data. Forecasts can be used to determine the best course of action. Management information systems can have information collected from various sources such as HR systems, sales and marketing figures, inventory control systems, office systems, finance, management and reporting or accounting and resource planning systems. The information from these systems compile data from several sources so if the process is not performing efficiently then adjustments would need to be made. This could be that data is out of date or inaccurate, the information is being collected from the wrong source or the information is not being delivered in the right format. BSBINS601 Manage knowledge and information | 21  Topic 3: Rectifications for business issues In this topic we will be following the steps used to decide upon rectification for business issues. This includes confirming sufficient valid and reliable information is available to support decisions, using risk management plans, using quantitative methods to support decision making, consulting with relevant stakeholders and then making decisions that are consistent with organisational objectives, values and standards. Using information to support decisions The purpose of a successful knowledge management system is to: share knowledge and information avoid redundancy prevent duplication of effort increase productivity support decision making providing reliable and secure information If there isn’t sufficient, valid and reliable information or evidence to support a decision then the information system is failing. The type of decisions that a manager or management may need to make could be complex, high risk or involve multiple stakeholders. Poor decision making can be when:  There is not enough information on which to base a decision  There are too many factors and scenarios  The decision is deemed “too risky”  Multiple choices can be made, leading to confusion. It is of great importance to ensure that the information being collected and processed is of quality so that the decisions made are valid and reliable. BSBINS601 Manage knowledge and information | 22  Activity: Read Read the article on using executive support systems to make effective decisions: https://www.mbaskool.com/business-concepts/it-and-systems/7251-executive- support-system-ess.html Take any notes to summarise what you have read and keep for future reference. Risk management Risk management involves a series of basic steps. Establishing and following a risk management plan can protect a business from potentially serious or catastrophic outcomes. The primary consideration of any possible losses for any stakeholders is what sets risk-based decision making apart from the more traditional forms. The risks for a business or activity are determined by the types of potential losses, the frequency at which they could occur, and the effects they would probably have. Although not certain, possible losses present a risk for a business and they should be considered in most business decision- making. The type of risks that are specific to information systems would be:  hardware/software failure  human error  malicious attacks  natural disasters  risk to corruption, theft or loss of data  backup failure  downtime. Some main factors that concern information management systems include: Privacy and security of systems, devices, data and records Privacy and confidentiality when collecting information Intellectual property and copyright Information security and the protection of data Managing employees, systems and networks Privacy and confidentiality of client data. BSBINS601 Manage knowledge and information | 23 Risk management is a structured approach to managing uncertainty and reduce the impact of risk, it includes actions taken to: Identify the risk Assess the risk Evaluate the risk Risk identification looks at identifying assets, threats, constructing risk scenarios of vulnerability and consequence. Risk analysis looks at the elements making up each risk scenario to determine the likelihood and impact of each risk occurring then the impact to the business. Risk evaluation should then provide an understanding of the significance of the risk level, prioritise them and then document the risk. A risk matrix identifies the risks and can include a description of the risk, the cause, impact, likelihood of it occurring, the consequence, risk level and actions taken to mitigate the risk. For example, you may identify: Threat Vulnerability Consequence Risk Malicious Configuration of Loss of data Downtime to system, attack network loss of money LIKELIHOOD HIGH RISK LOW RISK CRITICAL MODERATE Identification of what is high, low, critical or moderate risk should be according to the organisation’s risk level and tolerance. This determines the acceptable courses of action. For example: CRITICAL: This risk level is unacceptable and would create an impact so severe that it would cause catastrophic damage to the company. LOW: This level of risk can be accepted if no strategies can be implemented. It is the unacceptable risks or amount of risk acceptable that need to be addressed, as these would relate to the organisation’s risk appetite. A risk assessment plan includes the measures needed to respond to the risk. These are the risk mitigation options, based on the probability of occurrence and severity of the consequence for an identified risk (as shown in the above table). Risk mitigation can include:  Accept the risk.  Control the risk.  Avoid the risk.  Transfer the risk. Controls must be able to either reduce the likelihood of risk or reduce the impact. With the growing development and emerging technologies for cloud systems and distributed networks, risk management plans are of upmost importance to an organisation. BSBINS601 Manage knowledge and information | 24  Activity: Read Risk management plans: https://www.business.gov.au/risk-management/risk-assessment-and-planning/risk- management-plans Take any notes to summarise what you have read and keep for future reference. Activity: Watch Watch the following video on risk management. Video: https://www.youtube.com/watch?v=XbkMX0ASgj4 (08:41) Write down your key takeaways. Using quantitative methods to assist decision making Quantitative methods to assist decision making can be specific techniques that are based on scientific and statistical approaches. For example, those discussed earlier:  Linear programming  Probability decision theory  Game theory  Queuing theory  Simulation  Network techniques. The principle approach to quantitative decision making is the estimation of probabilities of events and their consequences. Decision trees and network analysis can be useful techniques for this type of analysis. Activity: Read The following article explains decision trees: https://www.geeksforgeeks.org/decision-tree/ Read through the information about decision trees and follow the examples: https://www.smartdraw.com/decision-tree/ BSBINS601 Manage knowledge and information | 25 Consulting specialists and stakeholders The management of knowledge and information is a broad area and can include skills and competency over a number of functions and expertise such as technology and business processes. Subsequently you may find specialist advice is needed, or consultation with other relevant stakeholders involved in the development of information and data systems to support decision making. This could be due to:  the nature of the work or industry  the skills, knowledge or competence of staff  legal implications, compliance and standards to be met  technical expertise  workplace health and safety  human resources. Image by Campaign Creators on Unsplash Expertise could come from internal or external sources: The internet is a good source of information and advice can be sought from governing bodies, industry specialists and consultants. An organisation may have the specialists and experts within their company such as IT experts, HRM, financial consultants, business managers. Project teams, functional departments or other stakeholders, such as users of the system. Activity: Group work Divide into pairs. Ensure you divide the work equally and work as part of a team. In your group write down all your skills and competencies that relate to working with information systems and processes. You can use www.seek.com to find job roles that you can use to outline specific competencies. Identify the gaps of knowledge and expertise in your group. List down what type of specialists and experts that you would need to consult with if you were managing a project to design and develop a decision support system for an organisation. Submit in a professionally written document within the timeframe allocated. Your trainer/assessor will provide your group with feedback. BSBINS601 Manage knowledge and information | 26 Accountability, consistency and timeliness of decisions A knowledge management strategy can support the management of knowledge and information through organisational objectives, values, standards, guidelines, procedures and roles and responsibilities. For example, a knowledge management policy will support knowledge management strategy to be integrated within the structure and culture of the organisation. The policy will cover elements such as:  a policy statement or purpose  organisational structure  business objectives  processes outlining how knowledge is captured  resources/roles and responsibilities and expected behaviours for integrating knowledge into business processes  how it links to other policies  review and performance. Or complying to legislation such as:  privacy of information  Workplace Health and Safety for example risk management  security and protection of data. When decisions are being made, they should:  be within the accountability of the people responsible for those decisions  follow any organisational policies, procedures, guidelines and practices  be consistent with organisational objectives, goals, strategies and values  be undertaken in a timely manner. Further organisational policies such as a privacy policy, could direct an organisation to how information is managed. For example in relation to:  access to personal information  disclosure of personal information  gathering of personal information  organisational standards and practices  quality of personal information  security of personal information  sensitivity of personal information  storage of personal information  use of personal information. BSBINS601 Manage knowledge and information | 27 Activity: Read Read the following article on making good and timely decisions: https://josephnoone.com/2010/05/23/making-good-and-timely-decisions-4-key- principles/ Take any notes to summarise what you have read and keep for future reference. BSBINS601 Manage knowledge and information | 28  Topic 4: Distributing information In this final topic we look at the activities for distributing information, including confirming information requirements are documented, databases are updated, systems are designed and tested, information and knowledge systems are up-to-date and hold quality data, developing a communication plan, distributing information and then monitoring and updating communication distribution plans and lastly maintaining relevant knowledge and security of information. Documenting information requirements Any information requirements for the development of information and data systems should be clearly documented. This provides a record of what is required as well as documentation that guides the process; according to roles, responsibilities in the right format and at the right time. This can be achieved through:  meetings  consultation  communication plans  development of policies. Meetings can be used to communicate information, consult with users of systems, provide feedback, seek approvals and distribute documentation such as policies, procedures and guidelines. Keeping track of information needs through documentation allows for a formal process that can be tracked and monitored. This can be through:  business plans  performance data  financial policies  risk management plans  forecasting and analysis reports  analysis of trends  profit and loss statements  sensitivity analysis  feedback forms  privacy policy and codes of conduct.  data and management procedures You may need to confirm that the information requirements are documented to senior managers or key decision makers for feedback and approval, depending on any organisational requirements. Documenting information and updating databases Knowledge and information that is stored by an organisation in systems should be maintained on a regular basis. This ensures the quality of information that the system produces. BSBINS601 Manage knowledge and information | 29 A database should allow the update of new information, delete redundant data and be maintained to keep the quality of data stored and information produced. Best practices in managing knowledge and information include ensuring that information is documented according to organisational policies and procedures and databases are updated regularly. Operational processes, decision making, and information produced by systems rely on the data that has been input and maintained. The implementation of a data maintenance strategy, file management procedure or knowledge management strategy could support an organisation to ensure regular updates and management of information is carried out. Issues can arise if information is not documented, or databases are not updated regularly:  Redundancy of data.  Unwanted files.  Inaccurate data.  Slower performance of processing.  Security breaches.  Excessive unused memory allocation.  Unclean data.  Logical or physical issues.  Duplication of records. Knowledge management systems can be used to capture, store, retrieve and support collaboration of information and knowledge produced by an organisation. Examples are groupware systems, organisation intranets, content management systems, document management systems. Activity: Report Read the following case study and complete the task that follows. Albany Academy is a community college providing courses to the local community. They have found that they are missing out on capturing a large amount of information from tutors who run the courses. Each tutor creates their own course, developing material and keeping track of the outcomes and feedback received from attendees. The college would like to capture this information and knowledge through documents such as surveys, feedback sheets, course documentation and tutor knowledge. Research a system that could be used for the college. You can base your research on any community college in Australia: https://cca.edu.au Your report should be between 1–2 pages long and be written in clear and concise English. Submit your report to your assessor trainer/assessor for feedback. BSBINS601 Manage knowledge and information | 30 Design and test systems The systems development lifecycle (SDLC) is a methodology used for designing and developing information systems such as information and knowledge management systems or decision support systems. It covers the stages in development: Analysis Requirements Design Testing Implementation Development The design of a system could be for the development of a database, a document management system, a knowledge management system or an information system. The SDLC incorporates testing within the design phase and also after development to ensure that the system is fully functional, without error, before going to implementation. Testing that takes place for an information and knowledge management system could include:  Testing queries on databases  Searching, filtering and sorting tests  Running data analysis on new data  User input testing collected  Running reports to test validity of data  Software testing  Using test cases and scenarios for  Testing code checking errors and outputs  Testing security  Testing knowledge base data. The ultimate goal is to ensure that the system is producing the right information to support decision making for stakeholders. Therefore, the tests will be specific to the outputs expected of the system. Activity: Read Read the following case study on the design and implementation of knowledge management systems: http://www.community-of-knowledge.de/beitrag/design-the-implementation-of- knowledge-management-system/ Read the following article on testing decision support systems: https://www.knowledge-management-tools.net/decision-support-systems.php Write down your key takeaways. BSBINS601 Manage knowledge and information | 31 Ensuring information is of quality The information and knowledge systems must be kept up-to-date, remain accurate and relevant and produce timely and sufficient information that is able to be used effectively by the relevant stakeholders (key decision makers/the users of the system). For example, if a database is used then it must be well maintained. The type of maintenance can include keeping data stored centrally so that updates are only needed in one place. Ensuring that information is of quality and effective, it is important to ensure:  data is validated before entering the system (for example through the use of validation checks on entry of data)  tests and monitoring of results are performed regularly  new data is added immediately  the updates of records are done regularly  the systems output quality information that can be used. You may need to conduct further testing or confirm with stakeholders that the information systems are providing quality information. Activity: Read The importance of keeping data up-to-date: https://socialnomics.net/2015/06/16/the-importance-of-keeping-your-data-up-to-date/ Take any notes to summarise what you have read and keep for future reference. Communication plans Communication plans help to ensure that all stakeholders are provided with the right information at the right time and defines how and when information is communicated, along with the communication channels to be used. For example: Stakeholder Message Channel Date and duration Location Sales Staff Updates to database Email Quarterly commencing Sydney for customers 3/2/19 branch Communication plans provide a way to distribute information at key dates and provides structure and clarity for all stakeholders. It can also reduce resistance to change for new system implementations through effective communication channels. BSBINS601 Manage knowledge and information | 32 When you distribute information, you may need to do so according to organisational policies and procedures such as privacy, security and confidentiality, via lines of authority, using standard organisational formats or documentation. Activity: Read Read the following article on developing a plan for communication: https://ctb.ku.edu/en/table-of-contents/participation/promoting- interest/communication-plan/main Take any notes to summarise what you have read and keep for future reference. Activity: Watch Watch the following on the communication planning process. Video: https://www.youtube.com/watch?v=Sdqk76dMvHI (05:03) Write down your key takeaways. Monitoring and updating communication plans is an important activity to ensure that regular reviews are made and changes are incorporated. Changes are inevitable in the life cycle of a project, especially for the implementation of a system. For example:  Changes in roles and responsibilities  People leaving  Timelines and deadlines  Operational processes may change  Gaps in communication  Mitigation for emergency situations. When you monitor a communication plan, you can keep on top of these changes, identify improvements, and ensure the overall effectiveness of the communication. You can also ensure that the communication activities have been implemented or actioned and chase up or consult with stakeholders when things are falling behind or if there are issues or problems with the process. Maintaining knowledge and security of information If there are two things that you need to ensure, one is that the knowledge is maintained to ensure the effectiveness of the system and secondly that it remains secure. BSBINS601 Manage knowledge and information | 33 Maintenance Knowledge may need to be updated, changed, checked, re-arranged or tested to keep it relevant, accurate and remain of quality. The information and knowledge should be kept current and allow for any changes or updates to new insights or feedback to be carried out at regular intervals. Using continuous improvement strategies can support the effectiveness of the system. Maintenance of knowledge can be through obtaining feedback, analysis of data, testing systems, report production, employee training and consistent collaboration with stakeholders. Image by Arlington Research on Unsplash Security Keeping data, information and knowledge secure means that an organisation is protecting its commodity from unwanted attacks, unauthorised access and use, disclosure of information, modification or destruction and privacy and confidentiality of client data. Organisational policies and procedures can support the security of information assets. It can include managing risks, identification of roles and responsibilities of users of the system, configuration and settings to support security and breaches. The type of controls can be:  Physical controls such as putting locks on computers or to a facility  Technical controls such as password and authentication methods  Administrative controls such as screening of users, implementation of policies and procedures. Security issues can arise from:  misuse of data  corruption of data  back up failure  malicious software  hacking  system failure  user vulnerabilities. The security of an information and knowledge management system can also be a compliance risk regarding legislation and privacy of information, data breaches, and organisational requirements relating to privacy, security and confidentiality policies and procedures. BSBINS601 Manage knowledge and information | 34 Activity: Read Privacy legislation in Australia is covered by the Privacy Act 1988, which regulates the handling of personal information about individuals: https://www.legislation.gov.au/Details/C2018C00292 The Act includes the Australian Privacy Principles, which set out standards, rights and obligations for the handling, holding, use, access and correction of personal information: https://www.oaic.gov.au/privacy-law/privacy-act/australian-privacy-principles. Review the following Privacy policies:  Australia.gov.au: https://www.australia.gov.au/privacy  Google.com: https://policies.google.com/privacy Guidelines for data protection – Information system security: https://www.cmu.edu/iso/governance/guidelines/data-protection/information- system.html Activity: Watch Watch the following Ted Talk about privacy. Video: https://www.ted.com/talks/alessandro_acquisti_why_privacy_matters Watch the following Ted talk about the NSA. Video: https://www.ted.com/talks/catherine_crump_the_small_and_surprisingly _dangerous_detail_the_police_track_about_you Take down your key takeaways. BSBINS601 Manage knowledge and information | 35