During a software development project, a new government regulation has been introduced, requiring additional data security measures. The Project Manager must adapt the project scope to accommodate these changes. Which of the following is the best option to manage the impact on the project's schedule and costs?
Conduct a revised cost-benefit analysis to assess the financial impact and adjust the timeline accordingly.
Limit the scope of existing project features to accommodate the new security changes within the current budget.
Increase the project budget to cover additional costs.
Extend the project timeline by estimating the time required for implementing new security measures.