A new privacy law will go into effect at the beginning of the next calendar...

A spike is a time-boxed activity that is used to explore a specific topic or issue, such as a new requirement, a technical challenge, or a risk. A spike can help the project team to gain more knowledge, reduce uncertainty, and plan better. In this case, the project manager should inform the project team of the new privacy law and create a spike for the next iteration to investigate how to comply with it and what impact it will have on the project scope, schedule, cost, and quality. References: PMBOK Guide, 7th edition, section 6.2.3.2; Professional in Business Analysis (PMI-PBA) Guide, 2nd edition, section 5.2.3.2.