An issue that was not documented as a risk emerges and could significantly impact a project being managed for several months. What should the project manager do?

When an undocumented issue arises, it becomes a problem that requires immediate attention. The project manager's primary responsibility is to address such issues proactively to minimize their impact. Holding a meeting with the project team and relevant stakeholders is the most effective first step because it facilitates collaborative problem-solving, leverages diverse expertise, and ensures buy-in for the chosen solution. This approach allows for a comprehensive understanding of the issue's impact and the development of an appropriate response. Avoiding the issue is irresponsible and will likely lead to greater problems. Delaying the project indefinitely is not a practical solution and can cause significant cost and schedule overruns. Informing the sponsor without a proposed plan of action is premature and shifts responsibility without demonstrating leadership or problem-solving initiative.