A project manager is leading a software project to generate savings for a major financial institution. The original duration was 13 months but execution issues extended it to 16 months. By month 11 the expected savings were exceeded, although not all functionalities planned for that time were complete. How should the project manager inform stakeholders of progress?

The project has already exceeded its original duration, but the key objective of generating savings has been met and even exceeded by month 11. This is a significant positive outcome that stakeholders, especially the sponsor, need to know. The best approach is to communicate this success (exceeded expected benefits) while also providing a clear plan for addressing the remaining functionalities. This demonstrates transparency and proactive management. Finishing remaining functionalities before notifying would delay critical positive news and could be seen as withholding information. Emailing monthly progress is a standard practice but doesn't specifically address the current situation of achieved benefits and pending functionalities in a focused manner. Reporting only that not all functionalities have been completed focuses solely on the negative aspect and omits the significant positive achievement of exceeding savings, which is the primary goal.