A company is preparing a formal response to bid for an infrastructure engineering, procurement, and construction project. When should a risk register be developed to identify risks? When a client project kick-off meeting is held to introduce risk assessment process to the client. During the project execution phase to allow the project manager to understand the risk attitudes of stakeholders. After a project budget is set up with a purchase order to charge hours for a risk workshop. Before a formal bid response is provided to the client to gain a greater understanding of the project's risk profile