During which phase of a development project is it MOST appropriate to assess the risk of a new application system?

Assessing the risk of a new application system during the feasibility phase is crucial as it is the earliest point in the development life cycle where potential risks can be identified and addressed. At this stage, the project's viability is evaluated, which includes analyzing technical, operational, economic, and schedule feasibility. By conducting a risk assessment at this point, organizations can determine if the benefits of the project justify the risks involved before significant resources are committed to the design and implementation phases. This proactive approach helps in preventing costly changes later in the lifecycle.

Identifying risks early allows for a more informed decision on whether to proceed with the project, alter the project's scope, or abandon it altogether. Addressing potential issues early mitigates the risk of discovering significant challenges in later phases that could delay or derail the project.