?IT545 Cost Benefit Analysis

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timer Asked: Feb 3rd, 2019
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Question Description

Analyze effective financial tools for technical environments.

Purpose

The purpose of this Assignment is to conduct a Cost Benefit Analysis for using Blockchain in your eCommerce.

Assignment Instructions

Scenario:

You are the Director of IT & Security for an eBook distributor. Your CEO has come to you asking when you are going to use Blockchain as it is the “hottest technology” out there. He heard by using Blockchain, the eCommerce site would be more secure and still stay PCI-DSS compliant. You will conduct a Cost Benefit Analysis to determine whether Blockchain usage is viable at your company.

You will conduct Cost Benefit Analysis for using Blockchain at your company. Specifically, in your eCommerce site for selling eBooks. As you work through the cost benefit analysis, you will also identify any technical or security risks for your company. In your analysis, you will answer questions (see below) to include financial and other evidence to support your answers. By answering these questions, it will help your company make a decision regarding “what” to do.

  1. Is Blockchain a viable solution to enhance security for your eCommerce site?
  2. Is now the time to use Blockchain?
  3. Do benefits of using Blockchain outweigh the costs?
  4. Is incorporating Blockchain beneficial to your organization as a whole?

Your analysis should include all costs (including personnel). It should also include all benefits. Benefits should be quantified. This is much easier for tangible benefits, but it is important to not ignore intangible benefits. The intangible benefits can be used to supplement your analysis.

Assignment Requirements

You will create a 2–3 page report of your Cost Benefit Analysis including a summary of your conclusions. Provide as much evidence to support the assertions that you make. In Excel®, you will show all your work including financial calculations. Please make sure all of the information in Excel is organized and titled accordingly.

Unformatted Attachment Preview

Unit 2 Assignment Grading Rubric = 150 points Assignment Requirements Points Possible Identified business, technology and security risks to using Blockchain in the company’s eCommerce site. Identified tangible benefits to using BlockChain in the company’s eCommerce site. 0-15 Identified intangible benefits to using BlockChain in the company’s eCommerce site. 0-15 Identified all costs associated to using BlockChain in the company’s eCommerce site. 0-15 The following questions were answered in the report: 1. Is Blockchain a viable solution to enhance security for your eCommerce site? 2. Is now the time to use Blockchain? 3. Do benefits of using Blockchain outweigh the costs? 4. Is incorporating Blockchain beneficial to your organization as a whole? Submitted an organized Excel spreadsheet containing all financial calculations. Submitted a well-organized 2–3 page report was created. In-text citations and references were present. 0-15 0-40 0-25 0-25 Total (Sum of all points) Less deduction taken for spelling, grammar, and APA errors. Plagiarism is totally unacceptable. New total after deductions Points Earned ...
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Tutor Answer

doctorlisa
School: University of Maryland

Find attached work, thank you. Please let me know if everything is ok. I will be happy to help with more assignments in the future.

Running head: COST BENEFIT ANALYSIS

1

Cost Benefit Analysis
Student’s Name
University Affiliation
Date

COST BENEFIT ANALYSIS

2

1. Is Blockchain a viable solution to enhance security for your eCommerce site?
Blockchain has much to offer in the field of e-commerce. Given that it is a digital record
for storing transactions lists (blocks) that are immutable, their use creates a level of trust between
the different parties in the blockchain (Tapscott & Tapscott, 2016). Notably, each block has a
link to a previous block, data and timestamp on the transaction it represents thereby highlighting
that it is impossible for anybody to modify it after it has been created (Parikh, 2018). With this,
the use of blockchain ensures both parties that the data it contains is...

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Anonymous
Good stuff. Would use again.

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