During the execution phase of a project, a new government regulation is announced that impacts the materials used in the project's product. What is the FIRST action a project manager should take to address the change in the project's external business environment?
Assess the impact of the new regulation on the project scope/backlog
Revise the project schedule and budget
Inform all stakeholders about the new regulation
Request additional funds to cover potential costs associated with the regulation
The project manager should assess the impact of the new regulation on the project scope/backlog to understand the implications and prioritize necessary changes. This step is crucial before recommending any scope or backlog changes, as it allows for informed decision-making and alignment with the project's objectives.
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What does it mean to assess the impact of a new regulation on the project scope or backlog?
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Why is it important to assess the impact before informing stakeholders or requesting additional funds?
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What steps should a project manager follow to assess the impact of a new regulation on the project backlog?
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