When a project encounters financial concerns due to currency instability, it is essential for the project manager to communicate and escalate the issue to the project sponsor. This is because the sponsor has the authority to make decisions on how to proceed and can provide guidance on managing the risk. The PMBOK Guide emphasizes the importance of involving stakeholders when risks arise1. Additionally, the PMI's standards for risk management suggest that risks should be escalated to higher authorities when they are outside the project team's control2.
References:
* Project Risk Management According to the PMBOK1.
* The Standard for Risk Management in Portfolios, Programs, and Projects2.

According to the PMI Guide to Business Analysis, a change request is a formal proposal to modify any document, deliverable, or baseline. It is used to request changes to the project scope, schedule, cost, quality, or any other aspect of the project. A change request should include the following information: the reason for the change, the impact of the change, the alternatives considered, the recommendation, and the approval status. A change request should be initiated whenever there is a deviation from the agreed-upon project scope or plan, or when there is a need to accommodate new or modified requirements. A change request should be submitted to the appropriate authority for review and approval, such as the project sponsor, the change control board, or the steering committee. A change request should also be communicated to the relevant stakeholders, such as the project team, the customer, the PMO, or the operations function. A change request should be aligned with the project objectives, the business needs, and the stakeholder expectations. A change request should be evaluated based on the criteria established by the project governance, such as the business value, the feasibility, the risk, the urgency, and the alignment with the project charter. A change request should be implemented only after it has been approved and authorized by the appropriate authority. A change request should be monitored and controlled throughout the project life cycle to ensure that the expected benefits and outcomes are achieved.
In this situation, the project manager should initiate a change request to modify the scope and adjust the timelines, because there are scope changes and a delay in the delivery of critical tasks that affect the project performance and the stakeholder satisfaction. The project manager should document the rationale and the impact of the change request, and submit it to the appropriate authority for approval. The project manager should also communicate the change request to the relevant stakeholders, and update the project plan and the project baselines accordingly. This way, the project manager can ensure that the project is aligned with the business needs and the stakeholder expectations, and that the project delivers the expected value and benefits. References:
The PMI Guide to Business Analysis, Chapter 6: Traceability and Monitoring, Section 6.4: Manage Changes to Requirements Business Analysis for Practitioners: A Practice Guide, Chapter 7: Traceability and Monitoring, Section 7.4:
Manage Changes to Requirements

According to the PMBOK Guide, 6th edition, section 4.6.1.1, the project manager is responsible for communicating the approved changes to the relevant stakeholders and ensuring that the changes are implemented as planned. The project manager should also manage the expectations of the stakeholders and address any issues or concerns that arise from the changes. In this scenario, the project manager should first meet with the operations manager to explain the background for the change and understand the operation manager's concerns about the change. This will help to establish a collaborative relationship and resolve any potential conflicts. The other options are either premature or inappropriate, as they do not address the root cause of the problem or respect the authority of the CCB. References: PMBOK Guide, 6th edition, section
4.6.1.1, page 115.

In an agile software development project, especially one with many unknowns, iterative scheduling is the most appropriate method. This approach allows the project to be broken down into smaller sections, often referred to as sprints, which can be planned, executed, and reviewed in a cyclical manner. It accommodates changes and unknowns by allowing for adjustments after each iteration, ensuring that the project remains flexible and responsive to the client's needs123. References:
* "An Agile Approach to Scheduling" article1
* Atlassian's guide on "Creating Project Schedules: Steps & Techniques"2
* "Agile Project Scheduling and Monitoring" from Open Colleges3