Total Information Risk Management

This book provides you with all the fundamental concepts, guidelines and tools to ensure core business information is identified, protected and used effectively, and written in a language that is clear and easy to understand for non ...

Managing Information Risks in asset management - Experiences from an in-depth case study in the utility industry

Information is one of the most important resources in our globalized economy. The value of information often exceeds the value of physical assets. Information quality has, in many ways, an impact on asset management organisations and asset managers struggle to understand and to quantify it, which is a prerequisite for effective information quality improvement. Over the past few years, we have developed an innovative management concept that addresses these new asset management challenges: a process for Total Information Risk Management (TIRM), which has been already tested in a number of asset management industries. The TIRM process enables to manage information quality more effectively in asset management organisations as it focuses specifically on the risks that are imposed by information quality. In this paper, we show how we have applied the TIRM process in an in-depth study at a medium-sized European utility provider, the Manx Electricity Authority (MEA), at the Isle of Man.

Modelling information requirements in complex engineering services

Services based around complex engineering equipment and systems provide substantial challenges in both the long-term management of the equipment and the need for guaranteed delivery of the related service. One of the challenges for an organisation providing these services is the management of the information that is required to design, deliver and subsequently assess the success of the service. To assist in this process this paper develops a model for capturing, organising and assessing information requirements for these Complex Engineering Services in which information required to support key decisions in the life cycle of the service is identified. The model – referred to as The 12-Box Model for Service Information Requirements – is embedded in a three-phase procedure for providing an assessment of information requirements of a service contract which also provides insight into the capabilities of available information systems in supporting the contract. An illustrative example examining service information in an aircraft availability contract is used to demonstrate the use of the 12-Box Model and associated assessment procedure.