Reading 27 (Capital Budgeting) - EOC Question 50 investment, describes, otherwise

mar350

Another one where I can’t cotton to the CFAI answer of B. (“Timing options [e.g. delay investing] should be included in the NPV analysis, but sunk costs should not.”)
How does the delay-start timing option affect Hernandez’ NPV analysis? Absent any explicit indication otherwise, you would have to presume that the investment outlay won’t be committed until the project actually starts. Indeed, the case describes the project parameters as Hernandez’ “predictions” (i.e. of the future), and all the company has done to date is “announce plans”. Then Hernandez’ manager says the company is “considering delaying the *start* of the project” (emphasis mine).
If the start of the project is delayed, the NPV won’t change; nor will the parameters of the project necessarily change. What “changes” then should Hernandez implement to her analysis?
Seems to me answer should be A (“No.”), not B.
Any ideas/comments?
If none, I will forward to CFAI and post back any answer I receive.
Cheers!