Records Management – 911 Case Study on Information Retention and Retrievability Rachel Verdugo March 23, 2010 Williamsburg, VA Page 1 Records Management – 911 and Workshop on Four Case Studies - Overview Case study workshop Case study objectives Page 2 “911” Call From A Frantic Employee Of A Company Employee: Help! I need important records!! Data Manager: Please calm down Sir. What is the records title? Employee: Title?? Ugh. It is something like Specification IDKNOW Data Manager: Sir, Do you have the date or the custodian of the record? You need to provide me with more metadata. Employee: Can’t you just Google the name in the database? I need it now! Data Manager: Sir. You need to remain calm. Which repository was the document placed in? Employee: The last time I saw the document was on Gawn Astray’s e-mail. Data Manager: I will see what I can do however it may take a few weeks to look into it. I can’t make you any promises on whether I will be able to retrieve your document. Employees spend 1.7 hours a day finding a documents Page 3 Case Study - Workshop Case Studies are real situations that occurred from various companies Four Case Studies: 1. Company is notified of a legal hold 2. Program Manager requests all first articles for 2 years 3. Company has an initiative to destroy paper records 4. Company is creating standard metrics (meta data) Case Studies will provide a problem solving opportunity around records management application Each group will be able to develop a solution from their own work experience and group collaboration Real situations that need records management solutions Page 4 Work Shop - Case Studies Objective We will break-out into 8 groups: Each group is given a case study and will have 45 minutes to work on the questions and to create a go forward plan Each group will have 15 minutes to share results of each case study Summarize results from the case studies from each group Workshop is to share and collaborate on lessons learned Leverage ideas and share experiences Page 5 ANY QUESTIONS? BREAK-OUT INTO GROUPS Page 6 “911” Records Management Court Cases Zubulake v. UBS Warburg LLC Jury awarded the plaintiff a total of $29 million in compensatory and punitive damages UBS Warburg LLC failed to preserve all potentially discoverable data (UBS produced 100 pages of documents as opposed to Ms. Zubulake produced 450 pages of documents) Counsel failed to communicate a “litigation hold“ to all key players In 2002, five major Wall Street brokerages (Duetsche Bank, Goldman Sachs, Morgan Stanley, Salomon Smith Barney, and U.S. Bancorp Piper Jaffray) agreed to pay a total $8.25 million in fines ($1.65 million each) for improperly storing e-mails Failure to produce records (digital) can results in fines E-mail was a main source of the business records and should have been both safe and accessible Increase in court cases due to lack of Company e-mail retention policies and procedures Information by James G. Barr Page 7 Why is Records Management Urgent to our Business? Records are evidence of the company’s operations, functions, decisions, organization policies, and procedures. Over retention of documents can cost additional storage, IT assets, and litigation for a company Unclear retention periods may cause: Lost time - Where is that information? Loss of knowledge - Why didn’t we learn that lesson last time? Confusion - Is this the final report? Control weaknesses - Who approved that Gate package? Did he have authority to sign that package? Company policy should state the retention period of documents and should be part of required training Page 8 What Are the Benefits of Proper Records Management? Benefits: Minimize litigation risks Preserve the corporate memory Protect intellectual property Safeguard electronic records not stored in traditional repositories Safeguard vital information Reduce operating costs Improve efficiency and productivity Ensure regulatory compliance Support better management decision making Through complete metrics suites Through aggregation for Knowledge Management purposes Legal holds are compliance driven and can be costly Page 9