What should you do if you are a consulting project manager and have been contracted by an investment bank to run a large information technology project that is expected to last 1 month? While developing the project charter, you discover that several regulatory requirements have not been addressed in the business case. Â Failure to meet these requirements could result in legal action against the company. However, implementing the technology to comply with these regulations exceeds the budget and scope of the project, and could result in the cancellation of the project. What should you do?
A. Wait until the project is 25% complete when you have a better idea of what resources and funding could be allocated to addressing these requirements. B. Track this as a risk. C. Write up a scope change for the work. D. Immediately disclose the discovery o the project sponsor and stakeholders.
D. Immediately disclose the discovery o the project sponsor and stakeholders.
D- Notifying the stakeholders immediately that there has been a significant oversight in the business case is the appropriate response. Project managers are required by PMIs Code of Ethics to comply with all laws and regulations. Failure to immediately and actively disclose that a regulatory requirement has not been addressed puts the company and the project manager in the position of breaking the law. [Reference -PMBOK 4th Edition, page 75 & PMI Code of Ethics and Professional Conduct, Page 2,3] [Prof. Responsibility]