An oil and gas project started without having acquired full funding for the project.

The project manager should have ensured that the risk associated with funding was adequately assessed and mitigated. This involves identifying potential financial risks early in the project, analyzing their impact, and developing a risk mitigation plan. This plan should include strategies to secure funding and contingency plans in case of delays in funding acquisition. By doing so, the project manager could have taken proactive steps to prevent work suspension due to funding issues.