A customer asks about opportunities to create business value. What should the project manager do first to provide an appropriate response?

The business case is the foundational document that justifies the project and outlines the expected business value. Meeting with the sponsor, who champions the project and its objectives, is the most direct way to understand and articulate the project's value proposition to the customer. This ensures alignment with the original strategic intent. Assessing business value across the project lifecycle is a continuous activity, but the initial step to address the customer's question is to revisit the established value. Meeting with the product owner to review the backlog focuses on product features and priorities, not necessarily the overarching business value from the customer's perspective. Requesting the team run a spike to identify additional value is premature; the first step is to understand the existing defined value before exploring new opportunities.