Requirements Prioritization

Correct Answer: Prioritize the new requirements and align them with the project objectives through a formal change control process.

The best approach to handle additional functionalities in a project would be to 'prioritize the new requirements and align them with the project objectives through a formal change control process' (Answer ID: 144354). This ensures that the project stays on track and any changes are systematically incorporated. 'Immediately updating the requirement document without reassessing project resources' (Answer ID: 144355) is not a good approach since the new functionality might require more resources and can disrupt the overall project plan. 'Ignoring the product owner's demand for additional functionalities' (Answer ID: 144356) is also not advisable as it could lead to failure in meeting client expectations. Finally, asking the team to 'start working on new functionalities without revising project plans' (Answer ID: 144357) puts the project at risk as it doesn't consider the implications of scope change on resources, timelines or costs.

Correct Answer: Assess the requirement's value against its cost and implications on the project scope and timeline.

The correct approach for a project manager when faced with a high-impact new requirement during the project execution phase is to assess the requirement's value against its cost and implications on the project's scope and timeline. This ensures that any significant changes to the project are carefully evaluated in terms of benefits, costs, and potential risks to the current project planAdding the new requirement to the project plan without assessing its broader impact risks causing significant disruptions, increased costs, or may jeopardize the project's successPostponing the evaluation of the new requirement could result in missed opportunities or the need for rework if the requirement is critical to the project's outcomeRejecting the new requirement outright without assessment may avoid potential complications in the short term but could lead to a failure to meet the project's objectives or stakeholders' needs in the long term.

Correct Answer: MoSCoW method

The MoSCoW method is an effective requirements prioritization technique that stands for Must have, Should have, Could have, and Won't have. This method helps in delivering maximum value by categorizing requirements into these four buckets to ensure the most critical and essential requirements are worked on first. Must-have requirements are non-negotiable and are required for the project to be successful, while should-have, could-have, and won't-have are categorized based on diminishing levels of importance and urgency. Other methods mentioned are not as effective in a tight deadline situation for the following reasons: Stakeholder voting without defined criteria can lead to prioritization based on personal preferences or influence rather than the value or importance to the project. Random selection is not strategic and can result in important requirements being overlooked, which could compromise the success of the project. Prioritizing by requirement complexity instead of value can lead to less valuable deliverables being worked on first, which may not align with the project's goals and stakeholder needs.