Storage Requirements
Inshore Insuranc Ltd (IIL) has planned for modifying their storage system and the following report would help in realizing the benefits of upgrading the information storage system for the organization. The benefit realization plan would be helpful for easing the evaluation of the processes for forming the identification of the reasons for the implication of improved storage system for IIL.
The project would involve the improvement of the information system storage of IIL for easing their information and providing them with the scope for the improvement of the operations. The project would also involve the successful formation and development of the factors aligning the significant utilization of the factors of operations. The project would involve the use of the improved storage for increasing the performance speed of the project. The improved system would help in increasing the autonomy, influence, simplified operations, and skills of the organization.
The new storage information system would be helpful for aligning with the structure of Val IT Framework and ISO 38500. As per the structure by isaca.org (2018), the new structure of IT framework involve the implication of cyber security for the data storage system. The CSX has been designed for improving the industries for aligning the safety and security framework for the data stored in an information system. The IIL would get the benefit of improved cyber security functions for the information storage.
The project governance for the project of information system upgrading of IIL would be developed based on the incremental allowances of the project development. The compliance development for the project would be based on the following points,
- Project steering committee would be in charge of the project quality and acceptance criteria
- Project Manager would take care of the activities and align the successful completion process
- Project team members would execute the activities and works for the project
The information storage developed for IIL would be evaluated on the following standards,
- Integration of the information storage for IIL so that data redundancy can be dealt
- Securing the information from external access or modification alignment
- Increasing the performance pace of the IIL with the help of automation process
The identified benefits of improved information system are integration of information, security of the data, and performance increment. The impact of these benefits over the risk and costs are given below,
|
Benefits |
Impact on Risk |
Impact on Cost |
|
Integration of information |
Reduce the probability of the risk like data redundancy, data overwrite, and loss of data |
Reduce the cost of managing the data on separate platform |
|
Security of data |
Reduce the probability of the risk like data theft and data manipulation |
Restrict the expense/loss due to data theft |
|
Performance Increment |
Reduce the probability of the risk like slower operations and delay in completion of sales operations |
Cost lost due to delay in operations would be minimized |
The implication of the compliance for the project of information system development for IIL would help in,
- Ensuring all operations would be executed successfully
- Each of the project member would be responsible for their corresponding activities
- No confusion would arise resulting in completion of the project as expected
The probable issues of non-compliance for the project of information system development for IIL are,
- Data redundancy and data overwrite
- Loss of data
- Data theft and data manipulation
- Slower operations and delay in completion of sales operations
|
Benefit Title: Integration of information |
|||
|
Unique Number: |
001 |
Benefit Owner: |
Data manager |
|
Benefit Overview: |
Data would be integrated on a single platform |
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|
Current business problems: |
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|
data redundancy, data overwrite, and loss of data |
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|
Solution: |
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Single Big Data Platform |
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|
Enabling functionality |
Integrated Data Source |
||
|
Change required Business, Technology, Organisation, People and Process |
Big Data Solution should be installed |
||
|
Impact on risk and cost |
Reduce the probability of the risk like data redundancy, data overwrite, and loss of data Reduce the cost of managing the data on separate platform |
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|
Business case variation |
IIL would be able to store their data on a singe platform |
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How will this be measured, source of information and frequency |
Data Storage Required and Cost expense on storing information |
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Baseline measurement and date |
19/05/18 |
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Target performance and realisation dates |
28/05/18 |
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Risk potential to achieving this benefit |
High |
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|
Risk mitigation |
NA |
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|
Status update and date |
30/05/18 |
|
Benefit Title: Security of data |
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|
Unique Number: |
0002 |
Benefit Owner: |
Security Expert |
|
Benefit Overview: |
Securing the data from external access |
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|
Current business problems: |
|||
|
data theft and data manipulation |
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|
Solution: |
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|
Security Measures like Firewall, IDS/IPS must be implied |
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Enabling functionality |
Security of the data stored enabling better performance |
||
|
Change required Business, Technology, Organisation, People and Process |
Security techniques would be installed improving the safety of data |
||
|
Impact on risk and cost |
Reduce the probability of the risk like data theft and data manipulation Restrict the expense/loss due to data theft |
||
|
Business case variation |
IIL would be able to execute their operations successfully without fear of data theft |
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|
How will this be measured, source of information and frequency |
Security hindrances occurred in the system |
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|
Baseline measurement and date |
12/05/18 |
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Target performance and realisation dates |
22/05/18 |
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|
Risk potential to achieving this benefit |
High |
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Risk mitigation |
Firewall, IDS/IPS |
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|
Status update and date |
27/05/18 |
|
Benefit Title: Performance Increment |
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Unique Number: |
0003 |
Benefit Owner: |
Operation Manager |
|
Benefit Overview: |
Increase in the efficiency of the organization |
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Current business problems: |
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|
slower operations and delay in completion of sales operations |
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Solution: |
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|
Increasing the pace of operations by implying automation and decreasing the time used for data fetching |
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|
Enabling functionality |
automation and decreasing the time used for data fetching |
||
|
Change required Business, Technology, Organisation, People and Process |
Information System and Automatic Operations (billing, customer data, and stock management) |
||
|
Impact on risk and cost |
Reduce the probability of the risk like slower operations and delay in completion of sales operations Cost lost due to delay in operations would be minimized |
||
|
Business case variation |
IIL would get the benefit of improved operations |
||
|
How will this be measured, source of information and frequency |
Time taken for the operations and number of customers |
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|
Baseline measurement and date |
25/06/18 |
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Target performance and realisation dates |
30/06/18 |
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|
Risk potential to achieving this benefit |
Medium |
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|
Risk mitigation |
NA |
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|
Status update and date |
08/11/18 |
4.1.1 Activities
Data would be integrated on a single platform
Big Data Solution should be installed
- 1.2 Outcomes
Data Storage Required and Cost expense on storing information
4.1.3 Schedule
Start Date: 19/05/18
End Date: 28/05/18
4.1.4 Dependencies
Integrated Data Source
4.2.1 Activities
Securing the data from external access
Security techniques would be installed improving the safety of data
4.2.2 Outcomes
Security hindrances occurred in the system
4.2.3 Schedule
Start Date: 12/05/18
End Date: 22/05/18
4.2.4 Dependencies
Security Measures like Firewall, IDS/IPS
4.3.1 Activities
Increase in the efficiency of the organization
Information System and Automatic Operations (billing, customer data, and stock management)
4.3.2 Outcomes
Time taken for the operations and number of customers
4.3.3 Schedule
Start Date: 25/06/18
End Date: 30/06/18
4.3.4 Dependencies
Automation and decreasing the time used for data fetching
Manual Process for modifying the functions and aligning the system modification process and integration management can be aligned successfully.
Automatic Management of the data would be required for easing the process
References
Binder, J., 2016. Global project management: communication, collaboration and management across borders. Routledge.
isaca.org., 2018. Building A Stronger Cybersecurity Workforce., CYBERSECURITY NEXUS™ (CSX). Available at: https://cybersecurity.isaca.org/csx-nexus
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Laudon, K.C. and Laudon, J.P., 2015. Management information systems (Vol. 8). Prentice Hall.
Marchewka, J.T., 2014. Information technology project management. John Wiley & Sons.
Sanchez, O.P. and Terlizzi, M.A., 2017. Cost and time project management success factors for information systems development projects. International Journal of Project Management, 35(8), pp.1608-1626.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Wager, K.A., Lee, F.W. and Glaser, J.P., 2017. Health care information systems: a practical approach for health care management. John Wiley & Sons.
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