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1. Identify what all need to get migrated?
2. identify how many exports,Exp to tables,Imports,Properties as this is a legacy version to UI migration it will take a lot of time if your versions are huge and also we need to perform a RECON once every thing is completed.
3.Make sure SYSTEM meets all credentials and you execute all the steps as per Install guide
4.Install DRM 11.1.2 and then use repository migration to create the Application
We migrated from 9.3.2 to 126.96.36.199 six months back successfully though it was NOT a simple task as suggested by Oracle.
We upgraded from 9.3.2 to 9.3.3 first as per Oracle recommendation and then from 9.3.3 to 188.8.131.52
The entire migration process is simple and can be performed from the admin console.
However, I would ask you to first do the upgrade in a Dev environment and reconcile all the exports from old/new environment to find out which of the attributes are not working in the new version as desired.
This is the most painful task I would say in the entire upgrade. There were few formulae which is different in the new version.
We had lot of attributes which We had to re-configure.
Other than that, things went smooth.
Good Luck with the upgrade.