As a project manager, you have been tasked with developing a delivery solution for a new software product. The project has a fixed deadline and the final product must meet specific regulatory standards. What should be the best approach to developing this delivery solution?
Extend the deadline to allow for additional time to ensure the software product can meet all regulatory standards and stakeholder requirements.
Design the solution with a comprehensive plan that incorporates predefined regulatory standards and utilizes an agile or hybrid lifecycle to accommodate the fixed deadline.
Prioritize the development of the lowest cost solution to ensure the project remains within budget constraints.
Focus solely on stakeholder input to tailor the software product, ensuring all their requirements are met in the final deliverable.