Change Request

Correct Answer: Evaluate the impact of the change on project.

The first thing a project manager should do when a major business process needs to be added mid-project due to a sudden change in market requirements is to 'Evaluate the impact of the change on the project.' This is necessary to understand the implications for the project, including timelines, resources, costs, and risks. However, the option 'Immediately implement the change without evaluation' can lead to unforeseen difficulties and potential failures when the impact is not properly assessed. 'Refusing the change request entirely' is also not a practical option because market requirements can change rapidly, and refusing to adapt could affect the project's success. Similarly, 'Informing the stakeholders that this is out of project scope' is also not a productive first step. Although it is important to inform stakeholders about changes and their impacts, it should be done after the evaluation of the change request.

Correct Answer: Perform an integrated change control.

A Project Manager should perform an integrated change control to handle a change request. This process involves reviewing the change request, its potential impact on the project in terms of cost, time, resources, and quality, and determining whether to approve or reject it. This approach ensures that the change is assessed holistically and mitigates potential negative impacts on the project schedule. The answer 'Ask stakeholder to submit a request for the next phase' is not correct because the necessity of a change should be assessed independently of a project's phase. The option 'Accept the change immediately without considering its impact', would potentially put the project at risk. Lastly, 'Discuss the change request only with the team' neglects the views and input of stakeholders other than the project team, which may lead to a less informed decision.

Correct Answer: Analyze the impact on the project and initiate a change request if necessary.

In managing a project, when a risk assessment reveals potential obstacles that could negatively impact the project timeline, the most appropriate action is to analyze the impact on the project and initiate a change request if necessary. This is because, as a project manager, it is crucial to determine the potential implications of the identified constraints on the project's scope, schedule, costs, and quality, and to take the necessary steps to address them, which could involve invoking the change management process. In contrast, requesting a deadline extension (second answer) is not the immediate solution, as it might not be always possible or favorable for the project stakeholders and does not necessarily address the underlying issues. Ignoring the assessment and continuing as planned (third answer) can result in uncontrolled risks and exacerbate project issues, while immediately changing the project schedule (fourth answer) may show haste and lack of comprehensive understanding. Hence, the correct and most effective approach is to analyze the situation, understand its impacts, and take measured actions such as initiating a change request, if needed.