During an infrastructure project, the project manager wants to ensure that shifts in market trends do not unexpectedly expand or reduce project scope. According to PMI guidance, how should the project manager approach surveying market trends?
Assign the task to a compliance officer after planning is completed and revisit only if a stakeholder requests.
Perform a single analysis during project initiation and lock the scope baseline afterward.
Delay market-trend analysis until the closing phase to capture lessons learned for future projects.
Continuously monitor market trends throughout the project life cycle and adapt scope if needed.
Project managers should not treat market-trend analysis as a single checkpoint. PMI's Exam Content Outline (Business Environment Domain, Task 3) specifies that the external business environment must be continually reviewed. Ongoing monitoring throughout the life cycle lets the team identify emerging opportunities or threats early and adjust scope, schedule, or cost before they become issues. Conducting the review only once-whether at initiation, after planning, or in closing-risks missing later market shifts; delegating the task without follow-up also fails to provide timely insight. Therefore, continuously monitoring trends and adapting as necessary is the correct approach.
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