In business
records management, five phases are identified as part of the records life cycle continuum, along with certain exceptions. The phases are as follows: • Creation and Receipt • Distribution / Access • Use / Consumption • Maintenance • Disposition
Creation and Receipt refer to records at their point of origin, which can be the creation of records within an organization or the receipt of information from external sources. These records include correspondence, forms, reports, drawings, and computer input/output.
Distribution / Access refers to the management of information after it has been created or received, including internal and external distribution, as records that leave the organization document transactions with outside parties.
Use or Consumption occurs after internal distribution and involves applying information to support business decisions, document actions, or serve other organizational purposes.
Maintenance includes records management, which involves filing, retrieval, and transfer of information. Filing entails organizing data in a structured sequence and establishing a system to manage it throughout its useful life within the organization. Effective filing is crucial for efficient retrieval and usage, while poor filing practices can hinder access to information. The transfer process encompasses responding to requests, retrieving data from records, and granting access to authorized users.
Disposition is the process of handling information that is accessed infrequently or has reached the end of its retention period. Records used infrequently may be moved to an “inactive records facility” until they meet their retention limit. Although some information retains long-term value, most records lose relevance over time, with their highest value occurring shortly after creation. Records then transition from active to semi-active and eventually to inactive. Retention periods are set by an organization-specific retention schedule based on regulatory, statutory, and legal requirements, business needs, and historical or intrinsic value. Information should be appropriately disposed when it is no longer valuable to protect privacy and confidentiality.
Long-term records are those with ongoing value to an organization. Retention periods may extend to 25 years or longer, with some records designated as “indefinite” or “permanent.” However, due to the impracticality of such retention, “permanent” is a rare designation outside of federal agencies. ==See also==