Five Fundamentals of Information Resource Management

1. Information Management.

Information is valuable and must be managed as such. In many organizations, information does not appear on the balance sheet or asset register and is thus seen as something that, while important, is not really valuable.

2. Technology Management.

Technology Management addresses the whole aspect of the value of technology to the firm. This includes the impact and effect on other resources as well as the gaining of strategic advantage by judicious use of the appropriate technology.

3. Distributed Management.

Where systems are located can have a significant impact on systems effectiveness as well as internal control and thought must be given to the maintaining of an adequate system of managerial control.

4. Functional Management.

Like other functional areas, IS must be directed and controlled in order to ensure the effective, efficient, and economic use of what is, after all, an expensive resource.

5. Strategic Management.

IS holds the potential to gain and maintain major competitive advantage for the organization. Used appropriately, IS can raise the barriers of entry to competition, gain exclusivity for the information holder, and generally keep the organization ahead of the pack

Source: Auditor’s guide to information systems auditing, Richard E. Cascarino 2007