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Question #1 / 20

You are leading a digital transformation project for a financial services company. During the execution phase, the compliance team discovers that a new data privacy regulation will take effect in 6 months, requiring significant changes to the data architecture. The development team estimates 4 months of additional work, but the CEO insists on maintaining the original go-live date to capture market opportunities. The change would consume 80% of remaining contingency reserves and requires approval from three different regulatory bodies. What is your best course of action?

A: Document the regulatory change as a major scope modification, convene the change control board to assess impact on project constraints, analyze alternative implementation approaches including compliance-first versus market-first strategies, and recommend the optimal path forward with updated project baselines.
B: Escalate to the project sponsor requesting emergency funding while engaging external compliance consultants to expedite regulatory approvals, then implement parallel development streams to minimize schedule impact and ensure full regulatory compliance.
C: Submit regulatory applications while directing the development team to begin architecture modifications, then negotiate with the CEO for a phased rollout that delivers core functionality by the original date with compliance features following in subsequent releases.
D: Conduct thorough impact analysis across all knowledge areas, engage stakeholders to evaluate alternatives including regulatory timeline negotiations, perform cost-benefit analysis of delayed compliance versus market opportunity costs, and present options through formal change control process.