A project manager is assigned to a yearlong project. Before the start of the design phase, a competitor announces that they will release a similar deliverable in 8 months, EComment Highlight (J) Strikethrough (W) G although with fewer features and functionality. Which two actions should the project manager take next? (Choose 2) Reduce the scope items of the final deliverable. Update the project artifacts to include this issue. Discuss and review this external risk with the project sponsor. Modify the project management plan with an incremental approach Evaluate the impact of incremental deliverables