During a project to develop a new pharmaceutical product, the project manager learns of a change in government regulations affecting project materials. What should the project manager do?

The project manager's first step should be to understand the impact of the new regulations. Studying the regulations with the team allows for a comprehensive evaluation of their effects on project scope, schedule, cost, quality, and resources. This analysis provides the necessary information to determine the appropriate subsequent actions. Updating the contingency plan is premature without first understanding the full impact of the change. Meeting with stakeholders to update the risk register and risk management plan is also a later step, after the initial impact assessment has been completed. Reviewing procurement documentation and modifying requirements might be necessary, but only after the impact on project variables has been assessed and confirmed.