When faced with the competitor's announcement, the project manager should take the following actions:
1.Reduce Scope Items: Given the competitor's shorter timeline and fewer features, the project manager should reevaluate the project scope. Reducing the scope items of the final deliverable allows the project team to focus on essential features and deliver a more streamlined product within the available time frame.
2.Discuss External Risk with Project Sponsor: The project manager should engage

In an agile project with a fixed budget and aggressive timeline, it is crucial to prioritize the backlog effectively. The project manager should review the backlog items and decide which ones are essential to meet the project goals and deliver value. This involves evaluating each item's impact on the project's success and its alignment with the project's objectives. By focusing on the most valuable activities, the project manager can ensure that the team's efforts are directed towards tasks that will contribute most significantly to the project's outcomes, even with limited time and resources234.
:
Guide to Backlog Management for Business Analysts1.
Agile project management and the PMBOK guide2.
Agile and PMBOK guide project management techniques3.
Product Backlog Explained [+ Examples] | Atlassian4.

According to the PMBOK Guide, when a change request is received, the project manager should evaluate the impact of the change on the project scope, schedule, cost, quality, risk, and other aspects. The project manager should also consult with the project sponsor and other key stakeholders to obtain their approval or rejection of the change request. The project manager should not proceed with the change without proper analysis and authorization, nor should they reject the change without considering the legal and contractual implications. References: PMBOK Guide, 6th edition, pages 115-116, 134-135, 141-142.

In project management, it's important to keep the project moving forward even when key stakeholders are not immediately available. In this case, the project manager should begin discussions with other functional managers first. This allows the project to progress while waiting for the accounting manager. Once the accounting manager is available, their feedback can be incorporated into the solution document. This approach helps avoid delays in the project. References: Project Management Professional (PMP) Reference Materials and Professional in Business Analysis Reference Materials guides and documents. Please refer to the specific sections on stakeholder management and communication management for more details.

According to the PMBOK Guide, when implementing new tools or approaches in a project, it's important to ensure that all stakeholders are informed and comfortable with the changes. This can be achieved by including the use of these tools and the monitoring of their benefits in regular status reports and the communications management plan. This approach allows stakeholders to see the benefits of the new tools in action, which can help to alleviate their concerns and increase their comfort level with the new approach. References: PMBOK Guide, 6th Edition, Section 10.1: Plan Communications Management.