According to the PMBOK Guide, 7th edition, one of the key activities of the project manager is to monitor and evaluate the project performance and outcomes, and to use the data and information collected to support decision making and adaptation. This is especially important for projects that operate in a dynamic and uncertain environment, where agility, market adaptation, and a quick response to market offerings are critical success factors. The project manager should conduct periodical reviews of the project plans, objectives, and deliverables to ensure that they are aligned with the changing needs and expectations of the stakeholders, and to identify and address any issues or risks that may affect the project value delivery. Option C is the best answer for this question.
Option A is not the best answer because reviewing the project objectives with the project sponsor is not a key activity that the project manager should undertake to ensure company success. It is a good practice to have a clear and shared understanding of the project objectives with the project sponsor, but it is not sufficient to ensure the project’s agility, market adaptation, and responsiveness. The project manager should also engage other stakeholders, such as the customers, users, and team members, and review the project objectives with them as well.
Option B is not the best answer because requesting more funding from the project sponsor to hire additional skilled resources and to incorporate additional quality in the project delivery approach and outcome is not a key activity that the project manager should undertake to ensure company success. It is a possible action that the project manager may take if the project scope, schedule, or quality are affected by the changes in the market or the stakeholder needs, but it is not a proactive or adaptive activity that the project manager should perform regularly. Moreover, requesting more funding may not always be feasible or desirable, as it may increase the project costs and risks, and may not guarantee the project value delivery.
Option D is not the best answer because creating a business case after performing a market review, and then submitting it to the sponsor to modify the project deliverable to meet the newly defined objectives is not a key activity that the project manager should undertake to ensure company success. It is a possible activity that the project manager may perform if the project deliverable is no longer aligned with the business needs or the market opportunities, but it is not a frequent or iterative activity that the project manager should do to ensure the project’s agility, market adaptation, and responsiveness. Moreover, creating a business case may not always be necessary or appropriate, as it may delay the project delivery and may not reflect the current or future state of the market or the stakeholder needs. References: PMBOK Guide, 7th edition, pages 9-10, 15-16, 25-26, 35-36, 49-50.
