I think the issue is figuring out if the question relates to Project Management covered on pages 216 and 217 of the 7th edition review manual, or to the SDLC phases on pg 225. Last paragraph on 217 covers planning being best. First phase of SDLC is initiation. In the project management section they cover planning, execution, and closeout. Other than closeout, planning and execution are mere mentions you can easily overlook.
C. Project planning phase is the BEST time to identify risk associated with major projects to determine a mitigation plan. During the project planning phase, project managers can identify potential risks and develop a risk management plan to mitigate or eliminate those risks. By identifying risks early in the project, project managers can take steps to address them before they become more difficult and expensive to manage. This can help ensure that the project stays on track and that the desired outcomes are achieved.
During the project initiation phase (option D), the project has not yet been fully defined, making it difficult to identify risks in detail.
Some CRISC questions or CRISC itself seems to be done by a drunk monkey.
The earliest phase of the SDLC posed by ISACA is 'initiation' and this should be the answer. Other methodologies place the planning phase as a separate phase, but you are supposed to answer based on the ISACA material, not some other 'logic'.
Think planning is project phases, and initiation is SDLC phases. Review Manual does a terrible job of laying out that there are actually phases to a project in the project management section 4.3 in the 7th edition.
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