Inventory all systems and applications. Compile a list of all hardware, software, peripherals, systems, applications, and data that could be affected by Y2K dates. Software tools can assist with this step. Assess risks and prioritize affected systems. Bear in mind the definition of compliance for each system or application and assess the business value of each system.
Software tools can help with determining application compliance.
Find out the Y2K-compliance status of your vendors, distributors, suppliers, and large customers who could have a direct impact on your business. Prioritize your needs according to criticality. Determine your Y2K-compliance budget. Develop cost and resource estimates for assessing your risk. Develop cost and resource estimates for fixing the affected systems.