A large construction project is meeting its objectives. The project manager wants to report project value to the sponsor and request closure of funding for the next phase. What should the project manager do?

The project manager needs to demonstrate project value to justify continued funding. Implementing a measurement system like Earned Value Analysis (EVA) provides objective, quantifiable data on project performance, showing how much value has been earned for the money spent. This is a robust and widely accepted method for tracking and reporting project value. Preparing a detailed report on successes and challenges is good for communication but doesn't inherently quantify value. Submitting a detailed cost budget vs. actuals report only shows financial performance, not the value delivered. Arranging a site visit allows for observation but lacks the objective, quantitative data needed for a formal funding decision.