When a critical resource such as software required for project tasks is no longer available, the project manager should first address the issue by seeking a solution that would allow the team to continue their work with minimal disruption. Meeting with the IT team to evaluate the possibility of renewing the software license is a proactive step that aligns with the principles of effective project management, which includes problem-solving and facilitating the continuation of project activities.
References: = The answer is verified by the PMP Examination Content Outline, which emphasizes the importance of problem-solving and facilitating project work. Additionally, the PMBOK Guide supports this approach by outlining the project manager's role in ensuring that project resources are available when needed to meet project objectives.