The correct approach is to manage scope formally. Referring to the approved project charter and initiating a formal change control process ensures that all impacts (schedule, cost, resources) are evaluated before a decision is made, maintaining project integrity and stakeholder alignment.

The core issue is a collaboration and communication breakdown with a key role (Product Owner). A focused workshop addresses the problem directly by realigning stakeholders, clarifying expectations, and co-creating a solution, which is more constructive and sustainable than escalation or working on less valuable items.

Effective communication is stakeholder-centric. The frequency, format, and content of reports must be tailored to what different stakeholders need to make decisions and stay informed, ensuring communication is useful and drives engagement, rather than being based on convenience or standardization alone.

The first step is always to understand the precise impact. A thorough assessment of the schedule (especially the critical path) and the specific knowledge gap allows the project manager to make an informed, risk-based decision on the best mitigation strategy, whether it’s knowledge transfer, using other resources, or replanning.

While all factors are important, the question specifies “based on financial value alone.” Net Present Value (NPV) is the primary measure of a project’s profitability and overall financial value in today’s dollars. Project C has the highest NPV ($150,000), indicating it is expected to add the most value to the organization financially.

A process audit is a key quality assurance activity. It focuses on the *processes* used to create the deliverables. Its goal is to ensure the team is working according to the planned procedures, standards, and methodologies, which in turn helps prevent defects and ensures consistency, rather than just inspecting the final output.

While all are important closing activities, conducting the lessons learned session should happen while the project’s events are still fresh in the team’s mind, and before the team is fully dispersed. This captures valuable insights on what went well and what could be improved for future projects, which is a critical organizational process asset.

The Risk Register is the central document where identified risks, their analysis (probability and impact), potential responses, and owners are recorded. It is the definitive source for summarized and detailed risk information for stakeholders. The Issue Log tracks active problems, not potential future risks.

A recurring licensing fee is an operational expense (OpEx) that occurs annually for the life of the solution. To accurately reflect the total cost of ownership in the cost-benefit analysis, it must be included for each year it is expected to be paid, not as a lump sum at the beginning, as its present value is different.

The correct approach is to manage scope formally. Referring to the approved project charter and initiating a formal change control process ensures that all impacts (schedule, cost, resources) are evaluated before a decision is made, maintaining project integrity and stakeholder alignment.0