Ai the start of a project, the sponsor declares that demonstrating benefits from the product...

According to the PMBOK Guide, an agile approach is suitable for projects that have a high degree of uncertainty and change, as it allows for frequent feedback, adaptation, and value delivery. An agile approach also enables the project team to demonstrate the benefits of the product to the sponsor and stakeholders through working increments or prototypes. Developing requirements and designs to support a faster product release may not address the uncertainty and change aspects of the project, and may compromise quality or scope. Emphasizing the adoption of a predictive approach may not be feasible or effective for a project that has a high degree of uncertainty and change, as it requires a detailed upfront planning and a rigid control of changes. Outsourcing development of the product to a third party may not be the best option for the project sponsor, who wants to see the benefits of the product demonstrated, and may introduce additional risks and challenges for the project management. References: PMBOK Guide, 7th Edition, Section 2.1.2, Agile Approach; Section 2.1.3, Hybrid Approach.