A risk assessment is a process of identifying, analyzing, and evaluating the potential risks that may affect the achievement of an objective, such as selling products online. A risk assessment can help the CIO to advise the board of directors of the possible threats, vulnerabilities, and impacts that may arise from the online sales strategy, such as cyberattacks, data breaches, fraud, legal compliance, customer satisfaction, and reputation. A risk assessment can also help the CIO to recommend the appropriate risk response measures, such as avoiding, reducing, transferring, or accepting the risks.

The other options are not as effective, as they do not address the potential problems with the online sales strategy in a holistic and systematic way. Reviewing the security framework may help to ensure that the online sales platform is secure and resilient, but it does not consider other aspects of risk, such as business, legal, or operational. Conducting a return on investment (ROI) analysis may help to estimate the financial benefits and costs of the online sales strategy, but it does not account for the uncertainties and variabilities of risk. Reviewing the enterprise architecture (EA) may help to align the online sales strategy with the business goals and capabilities, but it does not assess the likelihood and consequences of risk.