February, 2024 | Article
Illuminating the information governance journey: Effective strategies for stakeholder buy-In
INTRODUCTION
At a time when headlines are dominated by data breaches and the ever-evolving legal landscape, organizations stand at a pivotal crossroads marked by significant risks and opportunities. The realm of information governance has shifted from a silent background player to a frontline strategic necessity. At this intersection, information governance (IG) should move out of the shadow of the organization and emerge as a guiding light, a vital strategy illuminating a path forward
For professionals tasked with pioneering new initiatives in this domain, the creation of a compelling and lucid business case is paramount. In this first piece, Chris Hockey takes on the role of a seasoned navigator, leading you through the intricacies of constructing a business case that not only strikes a chord but also garners the essential support and resources from key stakeholders. In part two, Chris Giles will provide an in-depth exploration of the methodology and the skill of persuasively presenting its importance, pivotal in achieving endorsement for your information governance plans.
FOUNDATIONS OF ADVOCACY
“Formulating a ‘business case’ involves mapping out a detailed blueprint for launching new initiatives,” Chris Hockey notes. “Consider it like designing a building’s foundation,” he elaborates, “with your organization’s leadership as the critical inspectors, to whom you must present a plan that is both structurally sound and financially promising. The pivotal questions are: Why should this matter to them? What benefits does it bring to the table for both them and the organization? What will be the investment, and what rewards can be anticipated? You want to create a story that not only has a financial dimension but also aligns seamlessly with your organization’s objectives, tackling critical concerns of stakeholders such as improving operational effectiveness, adhering to regulatory standards, and safeguarding client data.” Hockey then outlines the essential steps to constructing a solid and persuasive case for an information governance strategy:
Mapping success: Linking IG with your organization’s big picture
Amidst the busy world of daily work, your strategic plan serves as your blueprint, aligning each action and initiative with the overarching aims of your organization. It needs to be more than a list of everyday tasks. It makes sure that everything you decide and do in your department helps achieve the big goals of your whole organization.
Making your information management strategy a key part of your organization's main mission and vision is important. This should not be just an add-on. Doing this makes sure that every step you take in your information governance plan helps move your organization towards its major goals.
The key role of strategic planning
Having a strategic plan is critical when dealing with the broad scope of information governance. Without it, trying to make a business case can feel like you're just wandering around with no clear goal. Think of your strategic plan as a guide that helps you figure out if an idea is just a quick fix or a big step towards the important goals of your organization.
For example, ask yourself if buying the newest technology will really help your organization move forward in digital transformation. Or, think about if changing your services could give you an edge in meeting compliance goals. These kinds of choices need clear direction, and that’s exactly what a well-planned strategy gives you.
Using long term goals to guide your business case
A strategic plan can’t be a mere formality. It's there to ensure that every project you propose is not a proposal for a quick fix but really a step towards building your organization's future. Think of this plan as a flashlight in the dark, showing you the way forward. It makes sure that your ideas keep moving the organization ahead, instead of just reacting to the most recent emergency.
Integrating strategic planning into information governance
For anyone deep into information governance, your strategic plan is your must-have guide. It's all about your ultimate targets and the main principles that lead your team when you face tough challenges. These can be things like dealing with a lot of data, following rules and laws, or managing the constant flow of new information. With this approach, making a business case becomes more than a one-time thing. It becomes a regular part of the way your department shares its story and makes plans for future success.
BUILDING BLOCKS OF THE STRATEGIC PLAN
Mission and vision: The core of information governance
A mission statement for your information governance department acts as its declaration of purpose—defining the 'why' behind each action and decision, providing a clear direction. The vision, on the other hand, is the 'what'—the dream you’re chasing, the distant goal on the horizon.
Goals: Mapping out success in information governance
Setting solid, measurable goals turns the big ideas from your mission and vision into a to-do list of achievements. These goals are targets you’re aiming to hit, and they should match up with the wider goals of your entire organization. Imagine setting a goal to improve your data quality or to hit compliance targets by a certain deadline. This is how you help your organization work more efficiently and manage risks better.
SWOT analysis: Your strategic examining tool
A SWOT analysis puts your strategic plan under a microscope. Every information governance strategy needs to take a good look at what you do best (strengths) and areas for improvement (weaknesses). Then, you have to look out for chances to grow (opportunities) and potential problems (threats). This thorough review shows where your department stands and what the business environment is like, giving you a strong foundation for making smart choices.
Action plans: Your path to success
Action plans are your map, showing you how to get from where you are now to where you want to be. They cover both the final destination and the journey there. They outline what steps to take, what resources you'll need, how long it will take, and how you’ll know you’ve succeeded. Action plans turn your high-level goals into real results through careful planning and execution.
Assembling the puzzle: Crafting a unified strategic plan
Think of making a strategic plan like putting together a puzzle. You have essential pieces—mission, vision, goals, SWOT analysis, and action plans. When you fit them all together, you end up with a complete guide for your information governance department. You want to weave these pieces into your everyday work and make sure they match your organization's big goals. This way, your strategic plan turns into a living, working blueprint that keeps your department moving forward.
Information governance can’t be done right or well without a strategic plan. It helps you create solid business cases, making sure that every project you start is on track and adds to what your department and the whole organization want to achieve. If you're in information governance and need to make a business case, this plan is your go-to guide. It helps you make sure every move you make has a purpose and keeps you heading towards progress.
KEY REASONS FOR BACKING INFORMATION GOVERNANCE PROJECTS
Making a case for information governance boils down to two major points: the financial aspect and managing risks. Understanding and being able to discuss these points is crucial when you’re trying to get approval from those in charge of finances—people who are really focused on making profits and avoiding problems.
Financial reasons: Understanding the money side
Cost savings: Picture your organization's record-keeping running as smoothly as a top-notch engine. Information governance can help save money by making data storage more efficient and getting rid of outdated systems. This frees up resources for projects that really push your organization forward.
Efficiencies: But it's not just about saving money. Making your information more streamlined does more than just clean things up—it also makes your team work faster. Faster access to information, quicker responses, and less time waiting for things to load mean your team can do their jobs more efficiently, without the slowdowns of disorganized data.
Revenue generation: Moving from cutting costs to making money, a strong information governance system does more than save—it opens up new ways to make money. How? By using clean, well-organized data to offer new services to clients or improve the ones you already have. This can make your organization the first choice for clients who value efficiency and innovation.
Safeguarding through IG: Managing risks
Legal risks: Dealing with information comes with big risks. A small mistake can lead to embarrassment, major public relations problems and —it could bring serious legal issues. Information governance acts as your guide through the maze of legal rules, keeping your organization safely within legal boundaries and away from trouble.
Operational risks: But it’s not just legal stuff you need to worry about. Operational problems can slow down or even stop your business’s progress. Good information governance means you have strong plans and processes. So, if things go wrong, you're prepared to deal with it quickly and keep things moving. This kind of readiness is what keeps your business running well, no matter what happens.
Risk avoidance: Steering clear of problems
Avoiding mistakes, especially in following rules, is important. Effective information governance helps you spot possible legal issues early on. By catching these problems early, you can avoid bigger issues, keeping legal troubles and fines from becoming major headaches.
Risk mitigation: Handling problems when they arise
Sometimes, even with the best planning, problems happen. That's where risk mitigation comes in. It’s your backup plan or a safety net. With information governance, you have the right procedures and policies to reduce any harm. This helps you handle difficult situations more effectively.
Connecting money and safety in IG business cases
Chris Hockey puts it this way: “Money and managing risks are really two parts of the same thing. When you cut down costs and make your team work faster, your organization becomes quick and agile—ready to handle any challenges or avoid them before they happen. And, when you’re good at managing risks, you’re doing more than just avoiding problems; you’re also keeping your organization safe from losing money through fines or security issues.”
He wraps up with this thought: “The financial and risk parts of your plan are not small details; they’re the foundation of your information governance business case. Showing how your plan saves money, makes things run smoother, brings in more income, stays out of legal trouble, and handles unexpected situations is what shows how information governance is a key strategic tool that’s critical for keeping your company’s money safe and maintaining a good reputation.”
In the next part of our series, Chris Giles will walk through the building blocks of a business case and provide some examples of how these core components of the business case can be applied to real-world situations within IG.
To find out more watch our ILTA Masterclass: Developing an IG business case and strategic plan. During this session Leigh Isaacs, Senior Director, Information Governance at DLA Piper, and Kandace Donovan, Vice President Operations, North America at LegalRM and Chris Hockey focused on the key elements to consider when developing both and effective methods to communicate them to stakeholders. To view the recording, click here.