A company is initiating a project to enhance an existing product that is developed internally. What should the project manager do first?

Reviewing lessons learned from previous, similar projects is the most crucial first step. This proactive measure provides valuable insights into what worked well, what didn't, and potential challenges or opportunities. It helps the project manager avoid repeating past mistakes and leverage successful strategies, leading to a more efficient and effective project. While ensuring the stakeholder engagement plan is accurate is important, it typically follows an initial review of existing knowledge. Identifying risks is also critical, but reviewing lessons learned can inform and streamline the risk identification process. Creating a lessons learned document for the initiation phase is a good practice, but it's an output of the current project, not a preparatory step for starting it.