A project manager has been assigned to handle a company’s newest product.

According to the Project Management Body of Knowledge (PMBOK) guide, when a project is in its conceptual stages and the success or marketability of the product is uncertain, it’s crucial for the project manager to first understand the minimum requirements of the product and assess their feasibility. This will help in setting realistic expectations and in planning the project effectively. References: PMBOK Guide, 6th Edition, Section 5: Project Scope Management