According to the BABOK Guide, the business analysis approach is the plan that describes how the business analysis activities will be executed. To plan the business analysis approach, the business analyst must understand the organizational process needs and the objectives that apply to the initiative1. The organizational process needs are the policies, standards, and procedures that guide thebusiness analysis work. The objectives that apply to the initiative are the goals and expected outcomes of the project or program.
The other options are not correct because they are not necessary to plan the business analysis approach. Stakeholders' threats and perceived threats, consideration of risk and reward, and purpose of the proposed solution are all aspects that may be considered during the business analysis activities, but they are not required to plan the approach itself.