When a new law is enacted that affects project parameters, the project manager should first assess and prioritize the impact of the new law on the project plan. This involves analyzing how the changes will affect the project scope, schedule, cost, and quality, and determining the necessary adjustments to the project plan.
The assessment should consider the severity of the impact and the urgency of the response required. This approach aligns with the PMBOKGuide's principles of conducting a risk analysis to evaluate the potential effects of an uncertain event or condition on the objectives of the project. It also reflects the PMP's emphasis on adaptive project management, where project managers must be able to respond to changes and dynamic project environments effectively. References: PMBOKGuide and Standards1.