That’s why it’s essential to gain expertise in document lifecycle management. What is the process involved in document lifecycle management, and how can management be provided at the highest level? Let’s find out.
Document lifecycle management – Why is it important?
The document management process consists of several steps, encompassing all processes from document creation to disposal. We can enumerate five basic stages of document lifecycle management: the creation, storage, retrieval, archiving, and destruction of documents.
Proper control of the document lifecycle can prevent your company from losing data. The lack of document management may put your company at risk of becoming outdated and not following the latest trends, resulting in a lack of basic knowledge. This can also lead to issues with complying with key standards and regulations.
If your company needs to follow ISO standards such as ISO 9001, the most popular quality management standard in the world, proper document management
What are the document lifecycle management stages?
We may talk about the seven stages that the document lifecycle management consists of
1. Creation
As the name suggests, it’s the process of creating, editing, and finalizing a document. In this stage, we should focus on a few essential features, such as its accuracy, completion, meeting legal or regulatory requirements.
2. Approval
When all necessary elements are correct, the document should be reviewed by one or more authorized persons. When you think any spelling mistakes are unimportant, think about the inappropriate amount for the order or the wrong delivery date. The cost of correcting documents or changing the details of a contract may be exorbitant.
3. Storage
Storage is equally essential as the previous two steps. All company documents should be stored in a safe location, with access to them by authorized personnel only. The storage format should also be considered so that it’s easy to retrieve the document.
4. Distribution
The creation and approval of documents will keep their content private to authorized people. The LEAN product development process tells us to release and share documents with the right people. It saves time and effort. Distribution is number four.
5. Retrieval
Creating documents that can’t be retrieved or accessed by authorized personnel makes no sense. The retrieval stage focuses on the importance of quick access to documents at any time. Using metadata for document indexing is quite helpful for the purpose.
6. Change control
The inability to control how and by whom changes are made to documents can result in unchecked mistakes, unauthorized work, and uncontrolled project growth. It is essential to identify who has made changes to a document.
7. Obsolescence
Once you have created a document, you cannot get rid of it by simply throwing it away. A document may become obsolete in case of mistakes or a change of versions. Disposing of documents with data inappropriately poses your company at risk of data loss and access to classified data by unauthorized people. A rubbish bin is not a solution to obsolete documents. Use shredding, or incineration instead.
Conclusion
So you should consider the above the different aspects of document lifecycle management. Each and every process involved is considered to be essential that you must know about.
