A regulatory agency has banned manufacture of a certain thickness of plastic packaging effective in 12 months. The project manager at a startup making alternative packaging has identified new products as part of risk management that could serve a growing customer base. What should the project manager do next?

The project manager has identified a significant external change (regulatory ban) that creates a market opportunity for the startup's alternative packaging. Notifying management immediately and presenting the proposed products leverages this opportunity to grow market share, aligning with proactive project management and strategic business objectives. Starting marketing only after the ban takes effect delays capitalizing on the opportunity and risks losing first-mover advantage. Maintaining current production and postponing discussions is a reactive approach that ignores a critical market shift and potential competitive advantage. Arranging a stakeholder meeting to review the stakeholder engagement plan is a valid activity but not the immediate priority when a clear market opportunity linked to a regulatory change has been identified. The most impactful next step is to communicate the opportunity and proposed solutions to management.