You are overseeing an infrastructure retrofit project when you receive an alert that a critical software component might not arrive on time due to logistical delays. Considering the complexity and innovations present in the project, what should be your FIRST action in harmony with the 'Monitor Risks' domain to ensure an appropriate response to this scenario?
Reassess the risk status by reviewing the risk register and risk report.
Seek a new software vendor.
Organize a project halt to conduct a new risk assessment workshop with all stakeholders.
Free up resources for another project phase while waiting for the software component to arrive.