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Companies are often faced with periods of fluctuating product demand that can make it difficult to maximize the usage of their capacity and resources. This makes it challenging to realize potential profit and can even have detrimental effects on the bottom line. Developing flexibility strategies to react to fluctuations in demand allows a manufacturer to dynamically adjust capacity and resources to keep costs under control. This project was pursued at a diesel engine manufacturer for two older product lines experiencing consistently declining volumes. The volumes were declining due to this company releasing newer products in the market, and the current economic downturn. There was also an expectation to eventually phase out these two engines after approximately five years. A project team was formed to address these challenges starting with defining the project scope, setting up the team and a cross-functional project structure, and developing work packages with a master timeline.