Project Management Professional (PMP) — Question 429

A medium-sized company has been exploring new marketing tactics with regard to launching a new product. New product creation is no small task. In the end, it was too big of an expenditure for the company to undertake.
What should the project manager do in the future when working on new product projects?

Answer options

• A. Make use of kanban boards so all stakeholders have a clear view of the project and provide their help accordingly
• B. Train the team to first find the minimum viable product (MVP) that will deliver value to the customer
• C. Increase the contingency reserve and prepare the team for applying fast-failing techniques when the estimates veer from the initial plan
• D. Adopt a chain management approach, developing products based on the same platform and infrastructure

Correct answer: B

Explanation

The correct answer is B because identifying the minimum viable product (MVP) allows the team to focus on delivering essential features that provide value, reducing costs and risks. Options A and D improve visibility and consistency but do not directly address cost management. Option C suggests increasing reserves and preparing for failure, which may not effectively address the core issue of high expenditures.