DonnaM: Taking a content inventory: "You take a content inventory because, before redesigning a website or intranet, you need to know what you have. This is especially important if you will be migrating your content to a new structure or new CMS - at some point you need to know every single content element.
Even if you aren't doing a big migration, an important step in a redesign project is gaining a deep understanding of the content - not only what you have, but what types of content you have and the relationships and patterns within the content.
Taking an inventory tells you what you have, and if you do it well, will also put you on the path where you have a good understanding of the content."