Explanation
According to the PMBOK Guide, 6th edition, page 123, the project manager is responsible for managing the project schedule and ensuring that the project deliverables are completed within the agreed time frame. If the project manager observes that an approaching deadline is likely to be missed because of some delays on the project due to a lack of resources, the project manager should follow the schedule management process, which involves monitoring and controlling the project progress, identifying and analyzing any variances or issues, and implementing corrective or preventive actions as needed. The project manager should organize a team meeting to discuss the next course of action, as this is a tool and technique for schedule control, which involves engaging the project team members and other stakeholders to review the project status, identify the root causes of the delays, evaluate the impact on the project objectives and constraints, and propose and agree on the best solutions to recover the schedule. The project manager should not escalate the issue to the sponsor, as this may imply that the project manager is unable to handle the situation. The project manager should not review the risk management plan, as this may not address the current issue of the schedule delay. The project manager should not review the milestone list, as this may not provide enough information or guidance on how to resolve the issue. References:
PMBOK Guide, 6th edition, page 123
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