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An ongoing project is on track according to project plan. However, a recent regulation change will have a major impact to the project. The project sponsor's NEXT step should be to:
Correct Answer: B
When a regulatory change significantly affects an ongoing project, thefirst step should be to perform an impact analysis and update the business case.This helps the organization understand how the change influences cost, timelines, compliance, and value delivery. Only after understanding the impact should actions such as seeking reapproval, changing scope, or applying for exemptions be considered. This aligns with the principle of informed decision-making in IT governance. Reference: CGEIT Review Manual: Domain 3 - Benefits Realization, Change Management COBIT 2019: BAI01 (Manage Programs and Projects), EDM02 (Ensure Benefits Delivery).