PMP Practice: Execute the Change Control Process

Zara leads a project at Colossal Wombat Labs to develop a regulatory compliance platform for financial institutions. The project uses a hybrid approach: core security and data architecture components follow a predictive lifecycle with fixed requirements and formal change control, while the user interface and reporting features are developed iteratively using two-week sprints. Three months into the project, a new financial regulation is published requiring all compliance platforms to include real-time transaction monitoring with specific audit trail capabilities. This change affects both the predictive architecture stream (requiring database schema modifications) and the agile UI stream (requiring new dashboard features). The architecture team is currently in the build phase, and the UI team is midway through Sprint 7. The change is mandatory for regulatory approval, and the sponsor has authorized the scope expansion. What should Zara do to manage this change across both streams?