Business analysis scenario help

I have been given the following scenario:

You have been hired as an analyst in Company X. Company X is a general IT services company that builds customized solutions for clients. Company X has won a services contract to build a content management system for Company Y. Company Y is a book publisher. They have been publishing books for the last 70 years and their current systems are based on mainframe technology. The content management system is to replace their existing mainframe system. Company Y has a small IT department that maintain the existing system with some outside support. Most of the users of the system working within Company Y have been with the company for greater than 10 years, with some far longer than this. Company Y has approx 70 employees and uses a range of different technologies for their business and operational support systems. As an analyst for Company X, give an outline of how you would expect to tackle the analysis for this project. Please discuss in terms of definition of scope, analysis methodologies and approach with reference to how the analysis work will fit into the over all project.

Any help with this would be thoroughly appreciated