Keeping up with the growth was becoming a problem for a privately owned Chinese financial services company. Although it easily lured business from state-owned competitors, low skill levels and weak accounting systems threaten the company’s cash flow. Moreover, poorly invested assets were delivering inadequate returns. Hence, you have been assigned over an existing project to upgrade the IT system to allow for an expansion. Specifically, the IT upgrade will enable the company to serve more competitors, expand the product line, gain market share, and win more licenses. The previous project manager for the project lacked an understanding of project management principles. In fact, upon close investigation, you’ve determined that the project lacks clearly defined project deliverables and lacks management control. Which of the following would be the BEST approach to resolve these short comings?
A. Implement a network authorization system
B. Subdivide the project deliverables into smaller, more manageable components until the work is defined to the work package level
C. Implement a project control system
D. Incorporate a system life cycle approach to the project
E. Integrate a lessons learned for each project phase
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