IS Week 12

This week we continued our discussion of Information Based Processes and Process Analytics. Specifically, we discussed Process Time Analysis. Process Time Analysis is the calculation of the execution time and cost of a process, using expected cost to account for branching. This must first be done via a time study. Time studies measure how long each activity in a process takes, how long a unit has to wait before processing starts, and then sum the processing and wait time to get flow time. Time studies take branching into account by identifying the likelihood of each branch occurring. Execution time is generally estimated by either observation or random sampling. Alternatively, several experts can be called in to give estimates, followed by a delphi analysis that will weight each of these estimates and provide a master estimate. This is known as single band delphi. Alternatively, wide band delphi can be employed. This is where each expert provides a pessimistic, optimistic, and expected estimate, and each of these is then weighted and synthesized to create a potentially more accurate estimate. This week we also discussed information management and policy. Information management includes all concepts, techniques, and processes which underlie and enable information service provision. The most fundamental thing to information management is the idea that information, and the documents in which it is carried, has a chain or lifecycle of clearly defined stages. Information management also assumes that information may be, to some extent, regarded as a resource. This is true despite the fact that determining the true value of information is very difficult.

https://www.simplypsychology.org/information-processing.html