D. is correct
Planning Phase - Including high-level risks in the planning phase is essential for ensuring that the project is well-prepared for potential challenges and can adapt to changing circumstances as needed.
Execution Phase - During this phase, the project team is actively working on implementing the project plan, and as a result, they may encounter risks that were not identified during the planning phase or risks that have changed in nature.
Once the project is approved and it moves into the planning stage, risks are identified with each major group of activities. A risk breakdown structure (RBS) can be used to identify increasing levels of detailed risk analysis.
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