During the execution phase of a software development project, a high-priority change request is submitted by a key stakeholder. The change would require significant modifications to the system architecture, affecting multiple modules and potentially delaying project completion. Which of the following is the most appropriate approach for the project manager to handle this change request?
Discuss the change request with the project sponsor and key stakeholders to gather their opinions
After reviewing, reject the change request as it would significantly impact the project scope and schedule
Update the project plan and system architecture to incorporate the change request as key stakeholders ultimately determine project scope
Initiate the change control process, document the change request, assess its impact, and seek approval from the change control board (CCB)