A characteristic based information evaluation model

Abstract

Throughout the engineering design process, engineers make decisions based on various information sources without formally judging the value and quality of information. With a wide range of information characteristics available to assess information, the question to the engineers is, "is it possible to establish a metrics to theoretically assess the credibility and value of information within the context of engineering design when they create, store and retrieve the information?" This paper first makes a brief review of the works that are related to assigning "value" to information with the focus being put on analyzing existing information valuing methodologies. In particular, the paper investigates and summarizes the information characteristics involved in these models and methodologies. Together with the fieldwork conducted in a number of global engineering and construction companies, the key information characteristics that are critical to information evaluation are identified. Finally the paper introduces an Information Evaluation Model (IEM) that uses the identified information characteristics as the assessment criteria to judge the value of information.

High value information for managers in organisations

“…The traits that distinguish information as a high-quality asset are crucial in assisting the evaluation process and ensuring that the information is highly valued. As a result, information characteristics are likely to be used as a foundation for judging either information quality or information value [36].…”