The project manager should first evaluate the impact of the nonrenewal of the license on the project. This involves assessing the risks, costs, and potential delays associated with not renewing the license. It is important to understand how critical the component is to the project’s success and whether there are any viable alternatives that could be considered. This evaluation will inform the decision-making process regarding whether to renew the license or seek other options. References: = PMBOK® Guide – Sixth Edition and the Professional in Business Analysis (PMI-PBA) Reference Materials.