A project manager is working on a project that will transform the organization's operating model.

When a project is faced with a fixed budget, it’s crucial for the project manager to prioritize the work based on its value to the organization. This approach ensures that the most important and valuable parts of the project are completed within the available budget. This is in line with the principles of value-driven delivery, which is a key concept in project management and business analysis. It emphasizes delivering the highest value to the business and stakeholders, and making decisions based on the maximization of value12. References: PMBOK Guide, Project Management Institute1; What to do when no more financing is available for a project in PMI, Project Management Stack Exchange1.