This report provides a comprehensive analysis of the 'My Health Record System,' a project initiated by the Australian government, focusing on secure cloud-based storage of patient data. It details the functional requirements, including authentication, summarization, authorization levels, and edit/update capabilities, and non-functional requirements such as functionality, usability, reliability, performance, supportability, configurability, and scalability. The report evaluates the strengths and weaknesses of an all-cloud environment, highlighting benefits like usability, bandwidth, reliability, manageability, disaster recovery, cost savings, and data availability, while addressing security concerns, vulnerability to attacks, dependencies, and initial costs. Furthermore, the report compares and contrasts the predictive and adaptive SDLC approaches, recommending the adaptive approach (Agile methodology) for its flexibility and ability to incorporate changes throughout the development process, making it suitable for the project's medium size and quality requirements. The report concludes that cloud storage is beneficial but security must be prioritized, summarizing key aspects of the system design and SDLC approach.