How to approach towards the powered product

1. First your Org. need to propose the Study phase.Customer should mutually agree on this with your org. for the schedule and the billing the resources during this activity.

2. Need to analyze the existing application from the feature, technology ,architecture , usability and maintenance point of view. Document the existing as well as new requirements which are not addressed by the current application. Document all the issues categorizing them as major and minor.

3. Check that what is the needful support and mechanism presently available to address the existing issues and new requirements.

4. Propose the reverse engineering phase to support the existing application. Propose documentation project for existing application from maintenance point of view.

5. Check if your org. has executed any such projects in the past history. This is to understand the the issues in prior implementation and risk associated. You should able to project the domain expertise needful for this assignment by studying the past project history.

6. Check customer has any budget allocation for new software development and any plans to upgrade / change the existing application.

With all this analysis , you will be in the position to propose new project to the customer. You need to present the case studies ,domain expertise , the cost effectiveness for the solution that your org. is suggesting over the existing products in the market and timeline to the solution. Iterative discussions with your internal teams and the customer will help you to go ahead.