The research and development department plans to develop a product that will create a new line of business for the organization. What should the project manager do to increase the likelihood of project success?

For a new product creating a new business line, defining the scope, vision, and mission is crucial for success. A working session ensures all stakeholders align on the project's fundamental purpose and direction from the outset. This clarity minimizes misunderstandings and scope creep later on. Drafting a project management plan prematurely without a clear vision risks planning for the wrong objectives. Benchmarking is valuable but comes after understanding the project's core intent. An impact analysis is also important but typically follows initial scope definition and is more about implementation strategy than foundational project success.