A project manager at a pharmaceutical company is leading a project in the development of a new drug. The project is under strict health, safety, and regulatory compliances. Midway through the project, a new regulation is introduced that could impact the composition of the drug and necessitates an immediate compliance review. What should be the initial step taken to address this new compliance requirement?
Re-assess the project's compliance to the new regulation and identify any areas of noncompliance.
Continue with current processes and discuss the new regulation in the next scheduled project review meeting.
Revise the project schedule to accommodate potential delays
Immediately initiate new training for the project team on the new regulation.