A multinational company has a plan to expand their business into a new security where they currently have no presence. A project manager is assigned to include this project. After reviewing the business case, what should be considered first-idea developing an appropriate implementation strategy?

Assuming resources from the new country without understanding the local context can lead to misallocation and inefficiencies. This approach may overlook critical factors such as cultural differences, local expertise, and market conditions, which are essential for successful project execution in a new environment.

While monitoring risks is important, it is not the first step. Without prior knowledge or lessons learned, merely identifying risks without a foundational understanding of the local context may not effectively inform the project’s strategy. A thorough analysis of environmental and regulatory factors should precede risk monitoring to develop a more informed approach.

While agreement among project sponsors is vital, this step should come after understanding the environmental and regulatory landscape. Without a clear implementation strategy informed by local factors, discussions around deliverables and timelines may lack relevance and feasibility, risking misalignment on project goals.