Abstract: A method for component-based systems development includes one or more components with a preferably common database for storing business data. By using several steps or phases, the method includes identifying business processes and information of principal importance to the business, classifying the information, and utilizing component-based systems development to produce a deliverable set of software applications. The business data can be stored in the components and can be accessed and processed via an interactive electronic terminal such as a computer and application software. Legacy systems can be incorporated by the method such that existing data can be utilized for new applications.