The project manager should prioritize compliance with the regulatory requirements while exploring ways to accelerate the project timeline. This can be achieved by employing project acceleration strategies such as optimizing resources, streamlining processes, and identifying bottlenecks123. It is essential to maintain adherence to regulations to avoid legal issues and ensure the product's successful launch. Seeking an exception or bypassing the regulatory process could lead to significant risks and is not advisable.
References: An overview of the regulatory process in project management emphasizes the importance of compliance from project inception1. Additionally, understanding and adhering to regulatory requirements is a critical skill for compliance analysts, who ensure that companies comply with legal and regulatory obligations456.