A change request has been approved for a project. Which of the following actions should be taken FIRST by the project manager?

An analysis to determine the impact on the project should be performed as part of the change control process *before* the change request is approved to assess its feasibility and effects.

Creating an updated Pareto chart is a quality control tool and is not directly related to the immediate steps following an approved change request.

Once a change request is approved, the project management plan and all relevant subsidiary plans and baselines, such as the scope, schedule, and cost baselines, must be updated to reflect the new approved reality. This ensures that all project stakeholders are working with the most current and approved project information, establishing a new baseline for future performance measurement.

Identifying project cost and schedule variances is part of monitoring and controlling project work, and while affected by changes, it is not the first action after approval; updating the plan comes first to set the new baseline.