Ace the 2025 Certified Governance Risk & Compliance (CGRC) Challenge – Navigate the Governance Maze with Confidence!

The correct answer is Phase 0, which is where strategic risk assessment planning is performed. This phase, often referred to as the "Prepare" phase in the Risk Management Framework (RMF), focuses on establishing the foundation for the entire risk management process. During this phase, organizations assess their overall risk management strategy, identify potential risks at a high level, and develop a comprehensive plan that encompasses the tools and methodologies that will be used throughout the RMF.

Strategic risk assessment planning is crucial in this phase as it helps in understanding the organization's risk tolerance, objectives, and the specific risks that could impact the fulfillment of those objectives. By laying out this framework, organizations can ensure that subsequent phases of the RMF are aligned with their strategic goals and that they effectively manage risk across their operations.

In other phases of the RMF, such as Phase 1, Phase 2, and Phase 3, the focus shifts to implementing security controls, assessing the effectiveness of those controls, and authorizing information systems. These phases are built upon the groundwork established in Phase 0, but they do not involve the initial strategic planning of risk assessments.