Records management (RM) practice involves following steps.
- Creating, approving, and enforcing records policies, including a classification system and a records retention policy
- Developing a records storage plan, this includes the short and long-term housing of physical records and digital information
- Identifying existing and newly created records, classifying them, and then storing them according to standard operating procedures
- Coordinating access and circulation of records within and even outside of an organization
- Executing a retention policy to archive and destroy records according to operational needs, operating procedures, statutes, and regulations.
Often, a records management system helps to aid in the capture, classification, and ongoing management of records throughout their lifecycle. Such a system may be paper based (such as index cards as used in a library), or may be a computer system, such as an electronic records management application.