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Question:
(a) Fincorp Ltd is an insurance company wishing to change over to a better business system using an improved version of a financial information system (FIS). The director has two choices, namely either to (i) .develop a new tailor made software for the company's financial insurance services or (ii). buy a new off the shelf software. Advise the director of Fincorp whether to invest on (i) or (ii). Give detailed information on how the investment shall be done.
(b) Explain how a project is fully managed in a case of tailor made software.
Structure of an information System An information system may be viewed as indicated in the Figure 1. Information systems accept (input), store (in files or database), and displ
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