Midway through a multi-phase project, the customer wants to replace the existing project software with a new tool as part of their improvement program. The team identified the change and submitted a change request to the customer for approval. What should the project manager do next?

The project manager's next step is to assess the change's impacts, prioritize them, and update the project management plan. This aligns with the "Perform Integrated Change Control" process, where all change requests are reviewed, analyzed for impact on project objectives (scope, schedule, cost, quality, resources, risks), and then approved or rejected. Updating the project management plan ensures that the project documentation reflects the approved changes. Informing senior management is premature without understanding the full impact. Evaluating business value is typically done by the customer or sponsor before submitting the change request, though the project manager might contribute to this analysis. Performing a skills gap analysis might be part of assessing resource impacts but is not the immediate overarching next step.