The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently hadthe following conversation regarding the development of a new information system for the company:CIO: The way to go about the analysis is to first examine the old system, such as reviewing keydocuments and observing the workers performing their tasks. Then we can determine which aspectsare working well and which should be preserved.MD: We have been through these types of projects before, and what always ends up happening is thatwe do not get the new system we are promised. Instead we get a modified version of the old system.CIO: I can assure you that will not happen this time. My team just want a thorough understanding ofwhat is working well and what is not.MD: I would feel much more comfortable if we first started with a list of our requirements. We shouldspend more time in determining what exactly we want the system to do upfront. Then your team cancome in and determine what portions to salvage if you wish. Just don’t constrain us to the old system! What method would you recommend to Illustrious Limited for system analysis? Explain.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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The Chief Information Officer (CIO) and the Managing Director (MD) of Illustrious Limited recently had
the following conversation regarding the development of a new information system for the company:
CIO: The way to go about the analysis is to first examine the old system, such as reviewing key
documents and observing the workers performing their tasks. Then we can determine which aspects
are working well and which should be preserved.
MD: We have been through these types of projects before, and what always ends up happening is that
we do not get the new system we are promised. Instead we get a modified version of the old system.
CIO: I can assure you that will not happen this time. My team just want a thorough understanding of
what is working well and what is not.
MD: I would feel much more comfortable if we first started with a list of our requirements. We should
spend more time in determining what exactly we want the system to do upfront. Then your team can
come in and determine what portions to salvage if you wish. Just don’t constrain us to the old system!

What method would you recommend to Illustrious Limited for system analysis? Explain.

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