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After 1 year Into the life cycle of an ongoing residential project, an announcement was...

After 1 year Into the life cycle of an ongoing residential project, an announcement was received from the municipality regarding a new regulation that will greatly impact the project's schedule and budget. What should the project manager do next?

A.

Perform a qualitative risk analysis and update the risk register.

B.

Submit a change request through the Integrated change control process.

C.

Update the issue log and discuss It in the next steering committee meeting.

D.

Estimate the associated costs and increase the project budget accordingly.

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