A steering committee involving business and IT is the best approach to enable effective communication to senior management regarding the project status for a strategic enterpriseresource management system implementation. This is because a steering committee is a group of senior executives, stakeholders, and experts who provide strategic direction, guidance, and oversight for the project1. A steering committee can help to:
Communicate the project vision, goals, benefits, and risks to senior management and other stakeholders1 Monitor and review the project progress, performance, quality, and deliverables1 Resolve any issues, conflicts, or changes that may arise during the project1 Ensure the alignment of the project with the business strategy, objectives, and priorities1 Provide support, resources, and sponsorship for the project1 A steering committee involving business and IT can ensure that both the functional and technical aspects of the project are well represented and communicated to senior management. This can help to avoid any misunderstandings, gaps, or misalignments between the business and IT perspectives. A steering committee can also facilitate effective communication among senior management, project team, and other stakeholders, and foster a collaborative and supportive environment for the project success2.
The other options, project management office with business and IT representatives, weekly project reports reviewed by business and IT management, and project status updates on the intranet are not as effective as a steering committee for enabling communication to senior management regarding the project status. A project management office is a centralized unit that provides standards, methodologies, tools, and support for project management3. A project management office can help to improve the efficiency and consistency of project delivery, but it does not have the authority or responsibility to communicate directly with senior management or influence their decisions3. Weekly project reports are documents that summarize the progress, performance, issues, and risks of a project in a given period4. Weekly project reports can help to keep senior management informed of the project status, but they may not be sufficient to address their concerns or expectations. Weekly project reports may also be too frequent or detailed for senior management who may prefer a higher-level or less frequent view of the project4. Project status updates on the intranet are web-based messages that provide information about the current state of a project5. Project status updates on the intranet can help to increase the visibility and transparency of the project status to senior management and other stakeholders, but they may not be effective in engaging them or soliciting their feedback. Project status updates on the intranet may also be overlooked or ignored by senior management who may have limited time or access to the intranet5. References := What is a Project Steering Committee? | Clarizen, How To Run An Effective Steering Committee Meeting - BrightWork, What Is a Project Management Office (PMO)? | Smartsheet, How To Write A Project Status Report: The Ultimate Guide, Project Status Update Email Sample Templates and Examples

A balanced scorecard is a tool that would best demonstrate the current state of strategic alignment, because it is a framework that translates the enterprise's vision and strategy into a set of performance measures that cover four perspectives: financial, customer, internal business process, and learning and growth12. A balanced scorecard can help to assess how well the IT function is supporting the business objectives, and identify the gaps and opportunities for improvement. A balanced scorecard can also help to communicate and monitor the IT strategy and goals, and align the IT activities and resources with the business needs and expectations1 .

The enterprise's data owner retains accountabilityfor the governance of data retention, even when the data is transferred to a third party. Outsourcing does not eliminate governance responsibilities; the data owner must ensure compliance with policies, regulations, and contractual terms, including how long data is retained and under what conditions.
While third parties execute controls,the enterprise remains accountable for the data and its governance outcomes.
Reference:
CGEIT Review Manual: Domain 2 - IT Resources, Data Governance
COBIT 2019: DSS01 (Manage Operations), APO10 (Manage Suppliers).

A cost-benefit analysis (CBA) is a process that evaluates the costs and benefits of a project or investment to determine its feasibility and profitability for an organization. A CBA can help the IT steering committee to compare different options for establishing a virtual reality store, such as the required hardware, software, data center, security, marketing, maintenance, etc. A CBA can also help estimate the potential revenues, customer satisfaction, competitive advantage, and social impact of the virtual reality store. A CBA can provide a rational basis for decision-making and prioritization of the project. A CBA should be requested before other actions such as a resource gap analysis, a key risk indicator (KRI) development, or a threat assessment, as they depend on the scope and objectives of the project that are defined by the CBA. References: ISACA, Performance Measurement Metrics for IT Governance, page 11. ProjectManager, Cost-Benefit Analysis: A Quick Guide with Examples and Templates2. HBS Online, Cost-Benefit Analysis: What It Is & How to Do It

Employee concerns about the future due to an emerging technology stem from uncertainty about the organization's direction. The CGEIT Review Manual 8th Edition emphasizes that the CIO's primary responsibility in such scenarios is to define and communicate a clear IT strategy to provide direction and reassurance.
* Extract from CGEIT Review Manual 8th Edition (Domain 4: Strategic Management):"When adopting emerging technologies, the CIO's primary responsibility is to define and communicate an IT strategy that aligns with the enterprise's goals and addresses stakeholder concerns. Clear communication of the strategy reduces uncertainty and fosters confidence in the organization's direction." (Approximate reference: Domain 4, Section on Strategic Communication) Defining and communicating a new IT strategy (option D) addresses employee concerns by clarifying how the technology supports business goals, how it will be implemented, and its impact on the workforce.
* Why not the other options?
* A. Develop and communicate new performance measures: Performance measures are operational and do not directly address concerns about the company's future.
* B. Define new roles and responsibilities for IT staff: Roles may need redefinition, but this is a secondary step after communicating the strategy.
* C. Initiate IT workforce training on the new technology: Training is important but does not address broader concerns about the company's direction.
References:
ISACA CGEIT Review Manual 8th Edition, Domain 4: Strategic Management, Section on IT Strategy Communication.
ISACA CGEIT Study Guide, Chapter on Managing Change in IT Strategy.