You are the project manager for a new product developinent project. Your team worked on this project to develap a new high techinalogy product to respond to the increased customer demand for new technology products. The project is 60% complete. You recelved a report from the marketing department detailing that a similar product is about to be released by a competitor. The competitor product appears to utilae an innovative design that entances the functianaily of the prodact. This porses a serious threat to the success of your project. Top management is considering cancellingyour project and start over again. They want you jarojoct manager) to make a recomenendation before they provide the final decision about the project cancellation. You have three eptions: 1. make a decision on your owri based on avallable information. 2. consilt others (external and intermal stakeholders) before making a decision 3. call a meoting with the project team and reach a consensus Q1. Which approach will you use to mabe the decision? 1 Mark. Q2. Justliy your choice for the glven scenario? 4 Marks