Management of information resources

Over the past decade the management of Information resources has become a more important factor within large organizations. In the past, many companies left the responsibility for the collection of information resources up to the individual who required the information.

For example, the marketing department would be responsible for their own information needs as would the communications, accounting, and research departments. Information collection and storage was left to the sole discretion of department managers, project leaders, and their employees.

As a result, many department and project managers were often faced with two issues they did not understand how to overcome:

• Information overload: With a sharp increase of incoming information through both physical and electronic formats, managers are having more and more issues with decipher high volumes of information and evoking meaning.
  
• A lack of valuable resources: Managers also experience the exact opposite issue; a lack of valuable resources to help many key decisions.

Potential issues with a lack of information resource management

Many organizations up until recently did not even have an information resource management plan in place. And, many companies still do not to this day. Without a plan and structure in place, there are many potential issues that could arise:

• Inconsistency in information storage and retrieval
  
• An inability to find information
  
• Misclassification of resources
  
• Resources getting lost or misplaced
  
• A lack of supporting research to make decisions

Management of information resources has become much more complex in recent years. It has become more complex than having a space to house resources. There are a multitude of formats to consider and a need for balancing both physical and electronic resources, not to mention a strategy to classify, store, retrieve, and track resources when they are in circulation within the company.

The library model for managing information resources

Savvy organizations have identified the need for an effective method to manage their information resources and have turned to library sciences for guidance. There is perhaps no better model to emulate than the library structure. Many organizations have set up resource libraries, knowledge centers, and research centers.

The role of these information centers is to manage the information resources and serve as a support function for the entire organization. Organizations are hiring librarians and information professionals to oversee the day-to-day operations of these information facilities.

Librarians, or often referred to as managers of information resources, serve a number of key functions:

• Collect and purchase resources
  
• Manage information resources and related information databases
  
• Conduct research and head research initiatives
  
• Assist key stakeholders with their information needs
  
• Support internal projects and initiatives
  
• Recommend new technologies

Information resources are a strategic asset

There is no denying that information has become a strategic asset and information resource management plays a vital role in ensuring that it supports organizational goals and objectives through:

• Identifying important resources
  
• Finding effective classification methods
  
• Providing adequate storage within companies

Information audits

Any organization that is considering adding an information resource center or overhauling their current information management system needs to perform an information audit.

Information audits help organizations frame their information needs and help them develop a system that will support information needs across the company. They examine:

• How resources are used within the company
  
• What resources are currently being used
  
• The equipment necessary to use/access information resources
  
• The cost of the information resources
  
• The value that information resources bring to an organization

The management of information resources has become a top initiative in the majority of industry leading organizations. They understand the value that accessible information resources provide organizations in support their goals and objectives.