A project manager is working on a software development project for a client. The client has provided a list of 20 potential features to include in the software. Due to budget and time constraints, only 12 of these features can be included in the current phase of the project. Which of the following is the most appropriate approach for the project manager to prioritize the features?
Prioritize the features that have the highest potential for generating revenue for the client, knowing revenue is a top priority
Analyze each requirement's value, dependencies, and feasibility, and prioritize based on a combination of stakeholder input and project constraints
Choose the features that have the lowest risk assessment scores, as determined by the project manager and project team
Select the 12 features that have the lowest estimated development time based on the development team's assessment, and add more features if the project runs ahead of schedule