Citation:

Vijayasekhar Duvvur, 2023. Cost-Benefit Analysis of Legacy System Modernization: A Critical Evaluation for Informed Decision-Making, ESP Journal of Engineering & Technology Advancements  3(3): 37-40.

Abstract:

Legacy systems, the cornerstones of many organizations for decades, are increasingly becoming liabilities in the face of evolving technologies and security threats. Modernization, the process of updating these systems, offers a path towards enhanced functionality, security, and efficiency. However, this transformation is not without its costs. This article delves into the complexities of cost-benefit analysis (CBA) for legacy system modernization. It explores the various cost categories, potential benefits, and methodologies for a comprehensive evaluation, ultimately aiding organizations in making informed decisions about modernization investments.

References:

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Keywords:

CBA, Legacy Systems, Modernization, Cost-Benefit Analysis, Return on Investment (ROI), Security, NPV, IRR, TCO.