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I was just remembering something. In David Allen's book "Making It All Work", the chapters on "getting perspectives" sheds some light. A good time to review the different Horizons of Focus are:

Next actions (runway level): daily basis - orient yourself for the day by selecting a small handful of tasks to focus on today.

Projects (10K): on a weekly basis. Bring your project status up-to-date based on the prior week's events. Also review and plan when you sense that a project has some friction and may need some replanning.

Areas of Focus & Responsibilities [folders in OmniFocus] (20K): Infrequently. I personally do my review on a quarterly basis or when some major life change occurs (change of job or responsibilities, personal and professional life changes).

The higher Horizons of Focus such as Goals, Objectives, and Vision are something that is out of range of what OmniFocus covers. I review those in other programs such as mind maps and outlines.