What should be an IT steering committee's FIRST course of action when an enterprise is considering establishing a virtual reality store to sell its products?

A resource gap analysis identifies what resources are needed, but this is premature without first knowing if the project is financially viable and strategically beneficial.

Developing KRIs is for monitoring risks once a project is approved and underway, not for the initial decision to pursue it.

A threat assessment identifies potential security threats, which is important but comes after determining the overall business case and viability of the project.

Before committing resources or diving into specific implementation details, an IT steering committee must first determine the financial viability and overall strategic value of a proposed initiative. A cost-benefit analysis will evaluate the potential costs (development, maintenance, infrastructure) against the anticipated benefits (increased sales, market reach, brand image), providing a clear financial justification for proceeding or rejecting the project. This initial step aligns the IT initiative with business objectives and resource allocation priorities.