A company begins a critical project with a fixed deadline. During the first planning meeting the team discovers the requirements list is too large to meet the deadline. What should the project manager do first?

The correct answer is to ask the team to propose a minimum viable product (MVP) to meet the date. This approach prioritizes delivering core value by the deadline, aligning with agile principles often used in critical projects with fixed deadlines. It involves the team, leveraging their expertise to define what is truly essential. Updating the risk register and presenting a contingency plan is a good step, but it doesn't directly address the core problem of too many requirements for the deadline; it's reactive rather than proactive in finding a solution. Proposing that the customer reduce the requirements backlog is a valid option, but asking the team for an MVP first allows for an internal solution proposal before engaging the customer with a problem. Increasing the team's capacity might not be feasible or cost-effective and doesn't guarantee the deadline will be met if the scope remains unchanged.