Managing information, in project management, is all about planning and organizing to complete the information goals of the organization. The information management systems refer to processes, procedures, and facilities that are used to gather, store and assimilate information between the consumers and producers in either electronic or physical format.
Information is necessary for the project managers and stakeholders to understand the situation of the project and make better decisions. Without the right tools in disseminating information, it will be difficult to manage the project at all. In project management, there are three methods used in information management systems on how data is managed and distributed.
Information may exist in the form of hard copy documents such as memos, letters, press releases and reports. It is important to organize the paper files for easy retrieval. Another type of information is electronic communications like fax, email, telephone, voicemail and video. They are managed through the electronic communications management. Lastly, information generated from management software and other collaborative management tools are also included as part of the electronic project management tools. The information is disseminated to everyone within the project to keep up with the schedule and the changes.
This term is defined in the 5th edition of the PMBOK.