When developing a product, it is crucial for a project manager to consider the stakeholder's needs. This aligns with the principle that stakeholders' needs and expectations are to be met in order to manage a project successfully. The PMBOKGuide emphasizes the importance of identifying stakeholders and understanding their needs and expectations as a part of the project management process. Stakeholders are individuals or groups who are actively involved in the project or whose interests may be affected by the execution or completion of the project. They can influence the project and its results. The concerns of the international stakeholder about the product not meeting the client's needs highlight the necessity of integrating their needs into the planning and development process12.
References:
* PMI's "A Guide to the Project Management Body of Knowledge (PMBOKGuide)"1.
* PMI's "Stakeholder Analysis: Pivotal Practice to Project Success" article2.

The project manager should review the historical information and lessons learned from last year's project to justify the new budget estimate. This is because the project manager used an analogous estimating technique, which is based on the costs of similar projects in the past. By reviewing the historical information and lessons learned, the project manager can explain to the project sponsor how the costs of the new project were derived, what assumptions and risks were considered, and how the three-point estimating technique was applied. This can help the project sponsor understand the rationale behind the budget estimate and increase their confidence in its accuracy and validity. The project manager can also use this opportunity to discuss the benefits and value of the new project and how it aligns with the organizational strategy and objectives. References: PMBOK Guide, 6th edition, section 7.2.2.4, page 262, Free PMP Exam Sample Question 04 (Earned Value)

When a new risk is identified and communicated directly to management, the project manager should first discuss with the consultant to understand why the risk was escalated. This will help the project manager to understand the severity of the risk and why it was not brought to the attention of the team first. Based on this understanding, the project manager can then decide the next steps, which could include including the risk in the risk assessment, entering it into the risk register, or escalating it further. References: PMBOKGuide, 6th Edition, Section 11.1: Plan Risk Management, and Section 11.5: Plan Risk Responses.

When faced with two major deliverables of equal priority, the project manager should not make unilateral decisions about which to prioritize. Instead, it is advisable to consult with the project sponsor and key stakeholders. This collaborative approach ensures that the decision on how to proceed aligns with the organization's strategic objectives and values. By assessing the value and impact of each deliverable, the project manager can establish clear priorities and guide the team accordingly. This method is supported by best practices in project management, which advocate for stakeholder engagement and value-based prioritization to navigate complex project scenarios effectively.
The approach is consistent with the guidance provided by the Project Management Institute (PMI) on managing multiple projects and deliverables1. Additionally, the Professional in Business Analysis (PBA) reference materials emphasize the importance of aligning tasks with business goals and using prioritization frameworks to manage workloads effectively23.

When facing difficulties in communication with a stakeholder, it is advisable to revisit and update the stakeholder engagement plan. This ensures that the approach to stakeholder engagement is tailored to their specific communication needs and preferences, which may increase the likelihood of successful interaction and feedback. The PMI standards advocate for the continuous monitoring and adjusting of stakeholder engagement activities to address and manage individual stakeholder requirements effectively. References: = The PMI's "A Guide to the Project Management Body of Knowledge (PMBOKGuide)" and "Business Analysis for Practitioners: A Practice Guide" both provide guidance on stakeholder engagement and the importance of adapting communication strategies to meet the needs of different stakeholders12.