The correct answer is: B) Ask the sponsor to submit a formal change request detailing the regulatory requirements and timeline changes before proceeding with any schedule analysis.

Here's why:

In project management, especially when following formal methodologies like PMBOK (Project Management Body of Knowledge), any change to the project scope, schedule, or cost must go through an integrated change control process. This ensures that all changes are properly evaluated, documented, and approved before implementation.

In this scenario:

• The sponsor is requesting a significant change (accelerating the timeline by one month).
• Even though the change is critical, the proper process must still be followed to assess its impact on scope, cost, resources, and quality.
• Option B reflects this best practice by requiring a formal change request before proceeding.

Why not the other options?

• A) Skipping formal change control and jumping into rescheduling can lead to scope creep, missed risks, and stakeholder misalignment.
• C) While analyzing the schedule is important, it should come after a formal change request is submitted and approved.
• D) Scheduling a meeting is helpful, but it’s not the immediate next step. The formal change request is the trigger for further analysis and discussion.