Nick Willard's model for IRM, was based on traditional resource management principles, but proved so powerful in its application to information, that the Network adopted it without hesitation as its 'road map' for the IRM Network to follow.
The Willard Model identifies five key elements of IRM:
The discovery of information resources and the recording of their features in an inventory
The establishment of responsibility for the upkeep of an information resource
Assessment of the cost of an information resource and its value to the organisation
The further development of an existing information resource to enhance its value to the organisation
The processes which may allow a resource to generate further value through conversion into an asset or a saleable commodity