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According to the PMBOK Guide, a project manager should put any new requirements in the backlog and submit a formal change request for approval, when a change in project scope is requested by a stakeholder. This is part of the perform integrated change control process, which involves reviewing and approving all change requests that affect the project scope, schedule, cost, quality, resources, communications, risks, procurements, or stakeholder engagement. A formal change request is a document that describes the proposed change, its justification, its impact, and its alternatives. A formal change request should be submitted to the change control board (CCB), which is a group of stakeholders authorized to approve or reject changes. The CCB should evaluate the change request based on the project objectives, the project management plan, the project documents, and the stakeholder expectations. The CCB should also consider the potential benefits and drawbacks of the change, as well as its alignment with the project charter and the business case. The CCB should then communicate the decision to the project manager and the relevant stakeholders, and update the project documents and the project management plan accordingly. This process ensures a consistent and transparent approach to managing changes, and prevents scope creep or unauthorized changes that could negatively affect the project performance or quality. References: PMBOK Guide, 6th edition, pages 115-116, 121-122.

 According to the PMBOK Guide, risk management is the process of identifying, analyzing, and responding to project risks. Project risks can be either threats or opportunities. A threat is a negative event or condition that may adversely affect the project objectives, while an opportunity is a positive event or condition that may enhance the project objectives. In this question, the new law is an external risk that poses a threat to the current production processes, but also an opportunity to introduce new products that can meet the customer needs and increase the market share. The project manager should inform the management of this risk and opportunity, and share the proposed products that can take advantage of the situation. This way, the project manager can align the project objectives with the organizational strategy, and seek the support and approval of the management for the changes. This is also consistent with the stakeholder management process, which involves identifying, analyzing, and engaging the stakeholders throughout the project life cycle. The management is a key stakeholder that has high power and interest in the project outcome, and should be kept informed and satisfied. Therefore, option C is the best answer. References: (Professional in Business Analysis Reference Materials source and documents)

PMBOK Guide, 6th edition, Chapter 11: Project Risk Management, pages 397-455

PMBOK Guide, 6th edition, Chapter 13: Project Stakeholder Management, pages 513-542

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The customer’s request should be managed by assessing risks together with business value during prioritization because this is the best way to balance the customer’s expectations and the project’s feasibility. Agile projects are characterized by frequent delivery of value to the customer, but also by uncertainty and change. Therefore, risks should not be ignored or deferred, but rather integrated into the decision-making process. By assessing risks together with business value, the customer and the project team can identify the most valuable and viable features to deliver in each iteration, and also plan for risk responses and contingencies. The other options are not the best choices because they do not consider the impact of risks on the project’s success. Accepting risks as they decrease over a period of time (option A) may expose the project to unnecessary threats or missed opportunities, and may also violate the agile principle of responding to change. Creating a risk value profile to track the relative importance of risks (option B) may help to quantify and prioritize risks, but it does not address the customer’s request or the project’s value proposition. Logging and tracking risks separately as only business value is important (option C) may create a false sense of security and satisfaction, and may also neglect the agile principle of delivering working software. References: PMBOK Guide, 6th edition, pages 18-19, 686-687. PMP Questions page 437. PMP Practice Exam 1.