What key are you looking for? You mean idea? Yes you can say that it is part of it. Just keep in mind there is a difference between programmers, coders, engineers, architects, etc.
The first thing I would do is to check if the DB is being used by other applications in the enterprise. Changing it point blank will just make you create patches to a number of applications if it is being by something else.
Next is to actually list the bugs and run an estimates on it. Replacing the entire application that will be like 100hours and fixing all the bugs in 10 hours is ridiculous. Also you will end up with that habit (if you are new to this career) and always recommend just replacing the application because you can't understand it.
These two steps above will determine your next plan of action.