A project is nearly 33% complete according to the earned value reporting method. An identified risk has occurred, and the project manager has chosen to draw funds from the contingency fund and add the activities necessary to deal with the problems associated with the risk. What should he do next?

a. The schedule should not be changed. Original plans should have allowed for this delay.

b. The budget money set aside for the risk should be released, but there is not a need for a schedule change.

c. The schedule and budget baselines should be changed, to show the new work.

d. The budget baseline should be changed, but the work should be done within the schedule as it is.