A labor union contract negotiation is delaying start of equipment installation for a new plant. The project manager previously logged this negotiation as a risk. How should the project manager respond now?

The correct response is to record the issue and implement the actions from the risk response plan. The problem has already occurred, transitioning from a potential risk to an actual issue. The project manager should consult the pre-defined risk response plan for this specific risk and execute the planned actions. Acquiring contract resources and submitting a change request for increased costs might be part of the risk response plan, but it's not the initial, comprehensive step. Escalating to the steering committee might be necessary if the planned response is insufficient or outside the project manager's authority, but the first step is to follow the plan. Meeting with the project team to identify mitigation options is a step for unidentified risks or when the planned response is ineffective; here, the risk was identified and planned for.