The programme is in the ‘design the outcomes’ process.

Comprehensive and Detailed 200 to 250 words of Explanation From Exact Extract of project-programme-and-portfolio-management of 5th Edition MSP:

The Risk Theme in MSP 5th Edition requires that all identified risks (both threats and opportunities) are assigned to an appropriate owner. A Risk Owner is someone who has the authority and resources to manage the risk and who is accountable for ensuring that the chosen response is implemented effectively. The seniority of the risk owner should be proportional to the level of risk exposure.

In this scenario, the risk—potential technological obsolescence or the opportunity for better technology—is categorized as high probability and high impact. This represents a significant exposure for the programme. Option A is the correct answer because MSP guidance states that high-priority risks that could fundamentally affect the programme's technical strategy or benefit realization should be owned by senior leaders. The Chief Technology Officer (CTO) is the ideal owner because they have the strategic oversight and technical authority to manage a risk related to "next-generation" smart meters. Appointing a senior executive ensures that the risk receives the necessary attention at the Programme Board level and that the phased roll-out strategy is technically sound and aligned with the organization's long-term technology roadmap. This demonstrates a mature application of risk management where accountability is placed at the level where the most impact can be made.