Explanation
The PMO should implement a better way to report the project's health by using earned value management (EVM) techniques that can integrate the traditional and agile approaches. EVM can provide objective and quantitative measures of project performance, such as schedule variance (SV), cost variance (CV), schedule performance index (SPI), and cost performance index (CPI). These metrics can help the PMO and upper management to monitor the project progress and cost, as well as to forecast the project completion time and budget. EVM can also be adapted to agile projects by using agile progress as an input, such as story points, backlog items, or iterations. This way, the PMO can report the project's health in a consistent and transparent manner that aligns with the expectations of upper management. References: PMBOK Guide, 6th edition, pages
261-262, Top 60+ PMP Exam Questions and Answers for 2023 - KnowledgeHut

When facing challenges with virtual team members being unable to join regular project update meetings, the immediate corrective action should involve direct communication with those team members to understand their constraints and revise the communications management plan accordingly. This approach is proactive and collaborative, aiming to find a feasible solution that accommodates the diverse locations and schedules of the team members, ensuring that everyone can participate in the project updates234.
References:
* Communications management plan - Lovepmp1.
* Managing Virtual Teams for High Performance - Project Management Institute2.
* Best practices for managing and developing virtual project teams3.
* Missing a Meeting? Just Stay Informed - Teams that Thrive4.