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Using Information Audit to prevent chaos

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  1. Using Information Audit to prevent chaos Chantal Marcoux Director, Information Service Caisse de dépôt et placement du Québec

  2. Table of content La Caisse and its Information Services Information Audit Experiences Next Steps After an Audit Focus on Alert Services Lessons Learned 1 2 3 4 5

  3. La Caisse and its Information Services What is La Caisse ?

  4. Background • Founded in July 1965 • Act of Québec’s National Assembly • Initial mandate to manage the assets of the Québec pension plan (RRQ) • Now manages the funds of 19 depositors: public pension and insurance plans as well as various other funds

  5. A major fund manager • Largest Canadian investor on world markets • One of the largest portfolio managers in North America • One of the world’s 10 largest real estate asset managers • One of Canada’s main private equity investors

  6. Asset growth since 1966 In billions of Canadian dollars - as at December 31, 2004

  7. Breakdown of total assets under management: $174.7 billion In Canadian dollars – as at December 31, 2004 Caisse Equity Markets Fixed Income AbsoluteReturn Investment Analysis and Optimization PrivateEquity Real Estate $115.9 billion $10.7 billion $48.1 billion

  8. Story of Information Services at La Caisse • 1991 : Records management • 2000 : VP Strategic Information and Intelligence • 2001 : Start offering Research services • Goal : implement a good and complet information management within the organization • March 2003 : a new direction was founded called Information Service • 15 information specialists in two teams : records managers, technicians, research analysts

  9. Information Audit Experiences Experiences and Definition

  10. Information Audit Experiences • Winter 2001 • Surveys and Interviews with Samson Belair Deloitte & Touche • Winter 2002 • Surveys and Interviews with Montreal University’s Students • 2002 • Complete Knowledge Audit with LGS : Identified needs for a Directorate responsible for information and knowledge management

  11. What is an Information Audit ? Process to understand information flows, information assets and information needs of an organization, and establish the best correlations between them.

  12. Information Audit Two ways : Formal and Informal

  13. Two Ways : Formal and Informal • Formal • Surveys • Interviews : Sense-making methodology • Statistics on all information services • HR analysis • Inventories : Technologies and informations sources • Library uses analysis

  14. Two ways : Formal and Informal • Informal • Analysing organization reports : annual report, website, internal newspaper. • Asking questions when possible. • Participating in important committees and projects. • Contributing to social committees. • Giving research results in person.

  15. Information Audit Sense-Making Methodology

  16. Sense-Making Methodology • Brenda Dervin, PhD • • Commonly use in Social Sciences and in evolution since 1972. • « Sense-Making is an approach to thinking about and implementing communication research and practice and the design of communication-based systems and activities. » • Mico-Moment-Time-Line Interview : Help to identify gaps in a process and find solutions.

  17. Sense-making Sense-making "gap" gap

  18. Micro-Moment Time-Line Interview • Micro-Moment Time-Line Interview provides precise information on the respondent’sexperience: • the respondent’s understanding of the situation; • what were the questions that came to his mind; • which strategies were used to obtain relevant information; • Were they succesful; • Was the information obtained helpful; • What obstacles the respondent faced while searching and obtaining information.

  19. Methodology Processes • Interviews • Select a regular task • Events or steps • Questions and sub-questions • Results compilation • Categorisation of events, questions, and sub-questions • Analysis and recommendations • Compare events and questions • Identify hard questions to answer • List all used sources

  20. List of the Sub-Questions • Did you asked assistance? • What was the answer? • How complete was the answer? • How relevant was the answer? • Which level of effort was required to get an answer? • Which sources have you used/tried/considered? • Which one provided you the answer? • What was the delay prior to getting the answer? • How important is your source? • Level of difficulty • Did the answer help you or not?

  21. Data • Results were compiled in Excel. • To understand the data’s meaning, the results were reorganized into categories. • Presentation of simple results and cross correlation.

  22. Conclusions • Although challenging, information research is a key process for analysts. • Analysts don’t have easily access to quality information sources. • Analysts are autonomous and have a busy schedule. • While there is a variety of professional at La Caisse, information needs are quite the same.

  23. Next Steps

  24. Next Steps • Strategic planning • Alert services Implementation

  25. Next Steps Strategic Planning

  26. Strategic Planning • Data Analysis • Which services are in place ? • Who uses them ? • How do they evolve within your organization • Mission • Vision • 2-3 major goals for the next three years • Annual planning following these goals

  27. Products and Services by Clients

  28. Products and Services by Clients

  29. Products and Services by Clients

  30. Strategic Planning 2004-2007 • Mission • Manage all the Caisse’s information resources, both internal and external, in a comprehensive and integrated manner according to the industry’s best practices and respond to the strategic and tactical information needs of the Caisse and its subsidiaries. • Vision • Consider information as an essential and manageable asset, and the Information service as the main force in obtaining the best results. • Management Philosophy • In order to create value, the Information service must be involved in making the decision process more intelligent, especially in investments. This is achieved through a global, accessible, profitable and competitive vision of the information assets and a true understanding of the specific information needs of the Caisse, its teams and its employees. In other words, provide the right information at the right time.

  31. Strategic Planning 2004-2007 • First objective: To structure the Caisse’s available information to facilitate access and sharing. Strategies: • Implementing and coordinating the Electronic Document Management System within all the organization; • Developing an electronic access infrastructure linked to related internal projects, ensuring promotion and sharing of available information to support investment decisions; • Coordinating external information sources management to promote sharing within the organization, create purchasing consortium, and ensure compliance with laws.

  32. Strategic Planning 2004-2007 • Second objective: Support the investment decision-making process with research activities and competitive intelligence. Strategies: • Develop our analysts’ information research skills, while building a Research and Information Intelligence Team ; • Create and coordinate competitive intelligence cells within several investment teams; • Develop infrastructure to share primary information (i.e. Directory of expertise)

  33. Services offers • Research and Information Intelligence Team • Researchs Mandates • Internet Training • Competitive Intelligence and Alert Services • Subscription Management • Portal • Information Architecture • Content • Link with ECM system • Records Management Team • Records Management • Entreprise Content Management (ECM) System Implementation

  34. Focus on Alerting Services

  35. Alert Services Implementation • Pro`s • Automate research • Higher efficency • Frequent update on latest trends or events • Time optimization • One step to look on all information sources at the time • Con`s • Need a research team • Take a lots of hours to manage, analyze and compile results

  36. Alert Services implementation • Analyze the information needs • Focus on specific and strategic information needs • Identify the best information sources and CI systems • Establish the strategies into it • Test the results • Test and define the product format with the client • Evaluation and update • Establish link between CI cells

  37. Lessons Learned

  38. Lessons Learned • Knowledge workers manage information many times a day • Info pros goals should not be to replace knowledge workers, but to help them improving these competences,. • Information audit is a complet process and is not limited to survey or interviews. • Information needs evolve • A close relationship with your customers is essential • Training is very important • Easy technology that organize all the information needed by your customers and technologies that enable them to find everything is not available yet…

  39. Thank you ! • If you have any questions… Chantal Marcoux 613-236-1687