A struggling company is executing a critical project. However, due to external environment changes, there is not enough funding to complete the project.
What should the project manager do first?
A.
Reduce the scope of the project to match the available funds.
B.
Park the project until the external environment is favorable.
C.
Ask the project sponsor to look for additional funding.
D.
Assess the impact and evaluate alternatives to accommodate the change.
D. Assess the impact and evaluate alternatives to accommodate the change.
Explanation: Assessing the impact of the funding shortfall and evaluating alternatives ensures that the project manager understands the full implications of the situation and can explore different options, such as reducing scope, seeking additional funding, or finding other ways to accommodate the change. This thorough analysis helps make a well-informed decision on the best course of action.
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