(2018, 1) Can someone help me with this question please. I will give a fast upvote. Please show working out or explanation.Area of study: ACCA, Accounting Information System

QUESTION ONE - SYSTEMS DEVELOPMENT LIFE CYCLE 25 marks Over the past five year, there has been significant growth in the construction industry. The trend during these years is the building of apartment complexes in upscale communities. The target market for these apartments includes returning residents and mature professionals wishing to invest in rental properties. The directors of KLX Construction Ltd had anticipated this trend and positioned themselves by acquiring properties for development in and outside of the corporate area. Currently they have several construction sites in operation in St.Andrew, each at different stages of development. In the past year, the company generated revenues of $2.5 billion but their external auditors had raised concerns about the inadequacyes of the legacy information system, the same concerns that for three years now, the accounting department had been complaining about. The directors have been undecided about upgrading or even changing out the old system because they recognized that unlike most companies, they have unique information needs and purchasing standardized systems was not an option they wanted to pursue. In addition to their operations in Kingston and St. Andrew, the company is planning to start construction in the summer of 2019 on five new developments on the north coast covering the parishes of Trelawny, St. Ann and St. Mary. Anticipated revenues from these ventures have been budgeted at $3.8 billion. The company recently hired an IT Manager and they are now seeking to hire two project managers and increase the staff numbers in the accounting department in anticipation of this new direction. At the recent board meeting held in August 2018, the chairman, Mr. Karl Jackson, noted that a steering committee was to be formed in a few weeks and has given the Chief Executive Officer the responsibility of selecting persons to form this new committee. The committee will be charged with overseeing the implementation of a new information system that must be completed by March 31, 2019. One of the directors had said after the meeting that "We have taken too long to make this decision, and this is a typical example of a reactive management philosophy as we only have six months to get our act together". Required: (a) The company has opted not to invest in a standardized commercial package but to develop an information system with the help of a consultant and the in-house IT Manager, due to the "unique information needs". Explain. (4 marks) (b) The Chief Executive Officer has been charged with the task of creating a steering committee to oversee the implementation process. State four persons who ideally must be selected for the committee and give the reasons for your choices. (8 marks)