Assessing the relative value of records so that they may be prioritized and scheduled for retention and fi nal disposition is the next step after classifying the records series.
Values may be structured as “high‐medium‐low” value, or primary and secondary val- ues (as records will have different uses and values, depending on the user group or business unit). The value of a record series will impact the retention period. 22
The output of your interviewing and analysis process at the business unit level should explicitly show how long the business units need the records (not how long they want to keep the records—since often users never want to let them go, “just in case”). If your organization has a senior records offi cer, or better yet, a corporate archivist, they should be able to provide crucial input in identifying and prioritizing those records with “enduring value.”
This value assessment impacts retention periods and the disposition path, (which may be to transfer, archive, or destroy the records). Records that have value must be retained, and those of enduring or historical value must be preserved (see Chapter 17 , Long‐Term Digital Preservation, for more detail). The critical task is to document the value of records series in regard to various user groups. Only then can an appropriate
assessing the relative value of records is key to determining their retention periods and disposition path.
Records have different types of value, such as fi nancial, legal, technical, and administrative/operational.
retention period be determined. Bear in mind that records have differing values to differing user groups or business units. Certain records series may be critical to one group, but have only moderate value to others.
When records no longer have any measurable value, they should be destroyed.
In the case of e‐records, they must be “virtually shredded,” leaving no trace of the record—except in cases where metadata must be preserved as a means of maintaining an audit trail of critical data, such as who created a record, when it was created, who authorized a record’s destruction, when it was accomplished, and so forth.
Types of Records Values
Records values can be broken out into distinct categories, although some records may fall into more than one category. “Records can have administrative [operational], fi nan- cial, scientifi c/technical, legal, evidential, or informational value. That value can be a primary value, which means the records are needed for carrying out the current operations of the organization. These values can also extend for a long time after the records are no longer needed to support the operations of the organization. These records have secondary values. A secondary value may also be the value records have to organizations other than the creating [business unit or] agency.” 23
Legal Staff Research and Input Is Essential in Determining Legal Value Records managers and archivists must conduct their own legislative research to ap- prise themselves on mandatory retention requirements, and to intelligently discuss these requirements with legal staff, to determine records that have legal value. Then further legal and regulatory research must be conducted, and fi rm legal opinions must be rendered by your legal counsel regarding records retention requirements in accor- dance with laws and regulations. This is an absolute requirement. Your legal staff or outside legal counsel should provide input as to the legal value of records, to arrive at a consensus on records that have legal value to the organization.
Estimating the Value of Financial Records
Legal and fi nancial records are not mutually exclusive, so there may be some overlap.
Any records related to fi nancial transactions and accounting records must be evalu- ated to determine how long they hold fi nancial value for the organization. This will require close consultation with your accounting and fi nancial management staff.
Financial records document important functions like cash inputs and outputs and must be retained for audit and tax purposes. These records are critical to enforce accountability. 24 In the process of conducting your retention scheduling research, review the fi nancial records series and consider if they document critical functions, such as revenue collection and expenditures.
Determining Scientific or Technical Value of Records
Records such as research reports, designs, blueprints, computer‐aided design/com- puter‐aided manufacturing (CAD/CAM), and the like have scientific or technical value for an organization. These types of records have enduring value and typically will command longer retention periods. To conduct your appraisal of these records, con- sult closely with the technical staff that creates the scientific/technical records, but bear in mind that it is the responsibility of the records manager or senior records officer to ultimately determine the minimum retention period for these records to moderate costs.
Long‐Term Archival Records
Inactive records that have historical value or are essential for maintaining corporate memory must be kept the longest. Although they are not needed for present opera- tions, they still have some value to the organization and must be preserved. This pro- cess can be complex and technical, when it comes to preserving electronic records (see Chapter 17, Long‐Term Digital Preservation, for more detail). If you have a corporate or agency archivist, their input is critical.25
Records Having Evidential Value
When records document organizational or operational changes, they document these changes and have evidential value. Organizational changes can include the “evolution of powers” or changes in organizational structure, and also changes in policies, proce- dures, and other organizational functions.26
Records contain evidential values when they show what the organization’s responsibilities were and how it carried them out. Records with evidential value show organizational structure, policies that were followed, and the reason these policies were developed. Because these types of records are concerned with policies and procedures, usually records created by the se- nior management of the organization are of more value than those created by offices lower down in the organizational structure. However, this does depend on the organization, delegation of authority, reporting, and records systems. Records created at the operating level usually are not related to the development of policy, but are usually housekeeping records, routine cor- respondence, or case files. Case files can be archival records if they possess evidential or informational value.27
Records Having Informational Value
Of course, all records contain information, but in this context, records that contain content related to employees, major events, facilities and locations, critical topics, sce- narios, and plans, have informational value. The value derives from the content itself, not the records creators or originators.28 Some key factors to consider are the unique- ness of the information, the concentration or density of information, and its useful lifespan.
Assigning Time Periods to Records Values
Some record types, such as vital records (those that the organization must have in or- der to continue operations—see Chapter 8, Managing Vital E‐Records), may need to be kept for extended periods or even indefinitely. Historical records will always need to be retained, but the value of most records declines over time. In working toward building your final detailed retention schedule, a good process to undertake is grossly estimating the retention periods for various records series in years, or even ranges of years by a prioritization analysis that asks questions such as, “What is the likelihood we will need these records series in the future?” and “What would happen if we destroyed and could not recover these records?” or “Is the cost of maintaining these records for longer periods worth the potential benefit?” The answers to questions like these may be stated in rankings (e.g., 1 to 10) or in categories (such as “high‐medium‐low‐very low”).29 Records consistently rated as low/very low are either not required for continu- ing business purposes or are likely to merit preservation for a short period (e.g., one to two years).30 This grouping and prioritization process is best done in close consulta- tion with a team that includes records creators/owners, business unit managers, legal and compliance staff, records management staff, archivists, risk management staff, and other stakeholders.
Meeting Legal Limitation Periods
A key consideration in developing retention schedules is researching and deter- mining the minimum time required to keep records that may be demanded in legal actions. “A limitation period is the length of time after which a legal action can- not be brought before the courts. Limitation periods are important because they determine the length of time records must be kept to support court action [includ- ing subsequent appeal periods]. It is important to be familiar with the purpose, principles, and special circumstances that affect limitation periods and therefore records retention.”31