A schedule risk has materialized into an issue and the project manager foresees execution delays. What should the project manager do to resolve it?

When a schedule risk becomes an issue, the project manager's primary responsibility is to find a solution. Collaborating with relevant stakeholders, such as the project team, functional managers, and affected parties, is crucial for brainstorming, analyzing, and selecting the most effective corrective actions. This approach ensures buy-in and leverages diverse perspectives to develop a practical resolution. Escalating to senior leadership (option A) is premature; it should be considered only if the team cannot resolve the issue or if it significantly impacts strategic objectives. Updating the schedule baseline (option C) is a consequence of the resolution, not the resolution itself. Updating the risk management plan (option D) is a separate process improvement activity, not the immediate action to address the materialized issue.