The CIO of a financial and insurance company is considering the projects and portfolio for the coming year Which of the following projects is a non-discretionary project?

A data center relocation, while potentially complex and expensive, is a business decision driven by efficiency or capacity needs, making it a discretionary project.

Compliance with statutory regulations is a non-discretionary project because it is legally mandated, and failure to comply can result in severe penalties, fines, and reputational damage. These projects are necessary to maintain the organization's license to operate and are not optional investment choices.

Actuarial application system analysis and design is an enhancement or development project aimed at improving business capabilities, which is a discretionary investment.

A core banking applications scalability assessment is an evaluation aimed at future improvements or risk mitigation, making it a discretionary project for investment.