A new manufacturing line's equipment installation will be delivered in iterations. During one iteration, the vendor informs the project manager they cannot deliver some equipment on the agreed dates. What should the project manager do next?

The project manager should first review the procurement agreements because these legally binding documents outline the terms and conditions, including penalties for non-delivery, dispute resolution mechanisms, and options for recourse when a vendor fails to meet obligations. This step determines the project's contractual rights and obligations before taking further action. Finding an alternative vendor or replanning iterations might be necessary subsequent steps, but reviewing the agreement first ensures any actions taken are compliant and leverage existing contractual protections. Updating the product backlog addresses project scope, not a vendor delivery issue.