When faced with an extensive list of requirements that threatens the timely delivery of a project, the project manager should prioritize the delivery of value through a Minimum Viable Product (MVP). This approach focuses on developing a product with just enough features to satisfy early adopters and provide feedback for future development. It's a strategy that aligns with agile principles, emphasizing incremental delivery and continuous improvement. By proposing an MVP, the team can concentrate on the most critical functionalities that provide the highest value, ensuring that key deliverables are completed within the strict deadline.
References: The verified answer is in accordance with the principles found in the PMBOKGuide, which advocates for value-driven delivery and prioritization1. The explanation is supported by the Professional in Business Analysis Reference Materials, which emphasize the importance of delivering value and addressing the most critical business needs first2.