While reviewing a project's progress, the project manager notices a risk has become an issue. What should the project manager do to address the situation?

When a risk becomes an issue, it means the risk has occurred. The most appropriate action is to implement the pre-defined risk response plan. This plan outlines the actions to be taken when a specific risk materializes, often including who is responsible and what resources are needed. Collaborating with stakeholders ensures everyone is aware and involved in executing the plan effectively. Initiating a change request for funds might be a part of the response plan, but it's not the first or only step. Brainstorming solutions is done before a risk occurs (as part of planning) or if the existing response plan is inadequate. Scheduling a high-priority meeting is too reactive and doesn't address the immediate need to implement the planned response.