1. DATA COLLECTION AND RECORD MANAGEMENT PRESENTED BY: MRS OLUWAFOLAKEMI A. AJAYI DEPUTY BURSAR UNIVERSITY OF IBADAN 5 TH APRIL 2016

2. DATA COLLECTION AND RECORD MANAGEMENT What is Data? Data is any form of information in raw or organised form (such as name, numbers, or addresses) that refers to an idea or identity of an object. It is limitless and present everywhere in varied format in our everyday life. It can be quantitative or qualitative. 2

3. What is Data Collection? Data Collection is the process of gathering and measuring information on targeted variables in an established systematic version which then enables one to answer relevant questions and evaluate outcomes. The Data Collection component of research is common to all fields of study including physical and social sciences, humanities and business, while methods vary by discipline, the emphasis on ensuring accurate and honest collection remains the same. The goal for all data collection is to capture quality evidence that then translates to rich data analysis. 3

4. Importance Regardless of the field of study or preference for defining data (quantitative or qualitative), accurate data collection is essential to maintaining the integrity of research. A formal data collection process is necessary as it ensures that data gathered are both defined and accurate and that subsequent decisions based on arguments embodied in the findings are valid. Impact of Faulty Data Distorted findings result in wasted resources and can mislead other researchers to pursue fruitless avenues of investigation. 4

5. While the degree of impact from faulty data collection may vary by discipline and the nature of investigation, there is the potential to cause disproportionate harm when these research results are used to support public policy recommendations. Garbage in garbage out. WHAT IS A RECORD? A record is something that represent proof of existence and that can be used to recreate or prove state of existence regardless of medium or characteristics. In essence it; 5

6.  Provides evidence (which is a by-product)  Comprises content, context and structure  Has integrity  Is unique  Exist regardless of physical format  Leads to an outcome. WHY ARE RECORDS KEPT? All organisations need to keep some records. Records and information are the lifeblood of any organisation. They are the basis on which decisions are made, services provided and policies developed and communicated. 6

7. Records are created not for the sake of it but to provide information about what happened, what was decided, and how to do things. Individuals cannot be expected or relied upon to remember or report on past policies, discussions, actions and decisions accurately all of the time. So, as part of their daily work they keep a record – by updating a register or database, writing a note of a meeting or telephone call, or filing a letter or email – which ensures that they and their successors have something to refer to in the future. 7

8. WHAT IS RECORD MANAGEMENT? Record management is concerned with the generation, receipt, processing, storage, retrieval, distribution, usage and retirement of records. It encompasses a wide variety of activities and sub- disciplines, such as the management of mail, correspondence, reports, copies, forms and directives. Record management is a fundamental activity of research and is essential to financial management. Financial records are the records that result from the conduct of business and activities relating to accounting and auditing; they provide prima facie evidence that: 8

9.  Resources have been received, committed or spent  Assets have been acquired or disposed off IMPORTANCE OF RECORD MANAGEMENT Organisations with good record management practices benefit in many ways. These include: They form the essential basis of monitoring, implementation and evaluation of projects. Ensuring that authoritative information about past activities can be found and used for current business or research. More effective use of resources – for example, disposing of records that are no longer needed frees up space within buildings and information systems and saves staff time searching for information that may no longer be there. 9

10. POOR RECORD MANAGEMENT Organisations with poor records management are at risk/suffers in many ways. These include: Poor decisions based on inadequate or incomplete information Financial loss because reliable evidence is not available Reputational damage because of criticism by the Information Commissioner for failing to comply with the information legislation he regulates Failure to handle confidential information with the required level of security Failure to protect information vital to the continued functioning of the organisation. 10

11. Costs incurred because records are being kept for longer than they are needed or staff wasting time considering issues previously addressed and resolved. All of these can lead to loss of reputation with damaging effects on public trust. Taken together, these benefits and risks provide good reasons to ensure that effective records management is in place. KEY FINANCIAL RECORDS FOR RESEARCH PROJECTS There are a lot of financial records needed in any financial activity. However, mention will be made of the following: 11

12.  Research Proposal  Approval – (Donor)  Memorandum of Understanding  Approved Budget  Cash Advance application form (not Salary Advance)  All relevant invoices and receipts  Cash Book, ledger account  Bank Statements – dedicated account CONCLUSION A well-designed, efficient record management program can significantly reduce an organization’s operational costs. It is therefore; evidently clear that owing to the sheer number of records either created or received by organizations, the significant role of records management cannot be over emphasized. 12

13. THANK YOU ALL FOR YOUR ATTENTION 13