Section: Volume D
Explanation:
Conducting a feasibility study begins once initial approval has been given to move forward with a project. It includes an analysis to clearly define the need and to identify alternatives for addressing the need.
Incorrect Answers:
B: Acquiring software involves building new or modifying existing hardware or software after final approval by the stakeholder, which is not a phase in the standard SDLC process. If a decision was reached to acquire rather than develop software, this task should occur after feasibility study and defining requirements.
C: Requirements of the project is being defined after conducting feasibility study.
D: This is latter phase in project development process.

Explanation/Reference:
Explanation:
When a new regulation for safeguarding information processed by a specific type of transaction is being identified by the IT manager, then the immediate step would be to understand the impact and requirements of this new regulation. This includes assessing how the enterprise will comply with the regulation and to what extent the existing control structure supports the compliance process. After that manager should then assess any existing gaps.
Incorrect Answers:
B, C, D: These choices are appropriate as well as important, but are subsequent steps after understanding and gap assessment.