A task on the critical path will not be completed on time. The project manager is reviewing both the schedule and the risk register to create a corrective action plan. The project completion date…

Revising the project plan is the necessary first step because it allows the project manager to identify schedule recovery techniques - such as fast-tracking or crashing - that can restore the timeline within the fixed constraints. Without a revised plan, the project manager has no concrete basis for requesting resources, communicating impacts to stakeholders, or formally issuing a change request.

Updating the issue log documents the problem but does not produce a corrective action plan, making it a secondary recording activity rather than the next logical step.

Requesting additional funding assumes a specific solution and cannot be justified until the revised plan identifies whether increased costs are actually required to recover the schedule.

Issuing a change request is a formal process that comes after the project manager has revised the plan and determined what specific changes to scope, schedule, or cost are needed.