Which of the following should occur FIRST in the IT investment process?

Assessing impact on the investment plan comes after projects have been initially selected for consideration based on their strategic alignment.

The very first step in the IT investment process is to ensure that proposed IT projects directly contribute to and support the enterprise's overarching mission and strategic objectives. This strategic alignment establishes the foundation for all subsequent evaluation and selection steps, ensuring that investments are made in initiatives that provide the most value to the business. Without this initial alignment, projects may be pursued that do not advance the enterprise's core goals.

Analyzing past investment data is a review or audit activity, not the initial step for new investment decisions.

Analyzing risks and benefits is a critical evaluation step that follows the initial selection based on strategic alignment, as it helps prioritize and refine the chosen projects.