The company plans a project using a new technology and needs approval to proceed. What should the project manager do first?

Before a project using new technology can be approved, the organization needs to understand its value proposition. Analyzing the cost and identifying the project benefits (e.g., increased revenue, market share, efficiency) provides the necessary business case for approval. This foundational step justifies the project's existence. Reviewing cost and schedule baselines for execution is premature as the project isn't approved yet. Defining change management is also premature; while important, it comes after the project is deemed viable and approved. Identifying risks is crucial, but it's part of a broader analysis that includes benefits and costs to determine overall feasibility and desirability.