Benefit Realization Plan: IIL Storage System Upgrade and Analysis

This document presents a benefit realization plan for Inshore Insurance Ltd (IIL) as they upgrade their storage system. The plan outlines the purpose and scope of the project, focusing on improving information storage, operational efficiency, and overall performance. It details the value proposition, aligning with frameworks like Val IT and ISO 38500 to enhance cybersecurity. The plan addresses development and operational compliance, including project governance and evaluation standards. A benefit/risk/cost model identifies key benefits such as data integration, enhanced data security, and performance improvements, along with their impact on risks and costs. The document also includes detailed benefit profiles, realization plans with activities, outcomes, schedules, and dependencies for each identified benefit, and discusses value governance processes. The goal is to ensure successful execution, clear responsibilities, and minimized confusion, ultimately leading to the project's successful completion and achievement of its intended benefits.

Running head: BENEFIT REALIZATION PLAN
Benefit Realization Plan
IIL upgrading storage system
Name of the Student:
Student ID:
Name of the University:
Author’s note:

1BENEFIT REALIZATION PLAN
Table of Contents
1.0 Introduction................................................................................................................................2
1.1 Purpose..................................................................................................................................2
1.2 Scope and Context of Project................................................................................................2
2.0 Value Proposition......................................................................................................................2
2.1 Alignment with Value Guidelines.........................................................................................2
2.2 Development Compliance.....................................................................................................2
2.3 Operational Compliance........................................................................................................3
2.4 Benefit/Risk/Cost Model.......................................................................................................3
2.5 Value of Compliance.............................................................................................................4
2.6 Non-Compliance....................................................................................................................4
3.0 Benefit Profiles..........................................................................................................................4
3.1 Integration of information......................................................................................................4
3.2 Security of data......................................................................................................................5
3.3 Performance Increment..........................................................................................................6
4.0 Realisation Plan.........................................................................................................................7
4.1 Integration of information......................................................................................................7
4.2 Security of data......................................................................................................................8
4.3 Performance Increment..........................................................................................................8
5.0 Value Governance.....................................................................................................................9
5.1 Value Governance Process....................................................................................................9
5.2 Governance Changes.............................................................................................................9
Bibliography....................................................................................................................................9

2BENEFIT REALIZATION PLAN
1.0 Introduction
1.1 Purpose
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.
1.2 Scope and Context of Project
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.
2.0 Value Proposition
2.1 Alignment with Value Guidelines
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.
2.2 Development Compliance

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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
2.3 Operational Compliance
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
2.4 Benefit/Risk/Cost Model
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

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2.5 Value of Compliance
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
2.6 Non-Compliance
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
3.0 Benefit Profiles
3.1 Integration of information
Benefit Title: Integration of information
Unique Number: 001 Benefit Owner: Data manager
Benefit Overview: Data would be integrated on a single platform
Current business problems:
data redundancy, data overwrite, and loss of data
Solution:
Single Big Data Platform
Enabling functionality Integrated Data Source

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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
Business case variation IIL would be able to store their data on a singe
platform
How will this be measured, source of
information and frequency
Data Storage Required and Cost expense on storing
information
Baseline measurement and date 19/05/18
Target performance and realisation
dates
28/05/18
Risk potential to achieving this
benefit
High
Risk mitigation NA
Status update and date 30/05/18
3.2 Security of data
Benefit Title: Security of data
Unique Number: 0002 Benefit Owner: Security Expert
Benefit Overview: Securing the data from external access
Current business problems:
data theft and data manipulation
Solution:

6BENEFIT REALIZATION PLAN
Security Measures like Firewall, IDS/IPS must be implied
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
How will this be measured, source of
information and frequency
Security hindrances occurred in the system
Baseline measurement and date 12/05/18
Target performance and realisation
dates
22/05/18
Risk potential to achieving this benefit High
Risk mitigation Firewall, IDS/IPS
Status update and date 27/05/18
3.3 Performance Increment
Benefit Title: Performance Increment
Unique Number: 0003 Benefit Owner: Operation Manager
Benefit Overview: Increase in the efficiency of the organization
Current business problems:
slower operations and delay in completion of sales operations
Solution:

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Increasing the pace of operations by implying automation and decreasing the time used for data
fetching
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
Baseline measurement and date 25/06/18
Target performance and
realisation dates
30/06/18
Risk potential to achieving this
benefit
Medium
Risk mitigation NA
Status update and date 08/11/18
4.0 Realisation Plan
4.1 Integration of information
4.1.1 Activities
Data would be integrated on a single platform

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Big Data Solution should be installed
4. 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 Security of data
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 Performance Increment
4.3.1 Activities

9BENEFIT REALIZATION PLAN
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
5.0 Value Governance
5.1 Value Governance Process
Manual Process for modifying the functions and aligning the system modification process
and integration management can be aligned successfully.
5.2 Governance Changes
Automatic Management of the data would be required for easing the process
Bibliography
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across borders. Routledge.
isaca.org., 2018. Building A Stronger Cybersecurity Workforce., CYBERSECURITY NEXUS™
(CSX). Available at: https://cybersecurity.isaca.org/csx-nexus

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