Explanation
In the context of the Project Management Professional (PMP) certification and the guidelines provided by the PMBOK Guide, the appropriate response when a project faces significant changes, such as a change in cyber regulation guidelines, is to follow a structured change control process. This process should be clearly communicated to the stakeholders. In this scenario, the project leader should present a report that includes the change control process for the newly introduced changes and an updated risk register.
The report needs to detail how the changes will be integrated into the project plan and how they will affect the project's scope, time, cost, and quality. The updated risk register is crucial as it will reflect the new risks or modifications to existing risks brought about by the regulatory changes. This approach ensures that all stakeholders are informed about how the project will adapt to the new requirements and the steps that will be taken to mitigate any risks associated with these changes.
References: Project Management Institute. (2021). A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Seventh Edition and other materials provided by PMI for PMP certification.