A project manager has just started a new project for an organization that dislikes budget...

In an organization with low tolerance for schedule and budget variance, stakeholder expectations must be managed through clear, consistent, and proactive communication—especially when stakeholders want visibility into risks and progress. Developing a communications management plan (D) is the best approach because it formalizes what information will be shared, how often, in what format, and through which channels. It also defines reporting responsibilities, escalation paths, and governance touchpoints (e.g., weekly dashboards, milestone reviews, risk reviews, variance reporting). This creates predictable transparency and reduces ad-hoc requests or misunderstandings that can lead to distrust or late surprises. Discussing risk response strategies (A) and ensuring a complete risk register (C) are important components of risk management, but they do not, by themselves, establish the systematic visibility stakeholders are asking for. Adding schedule buffers (B) is a planning tactic that may or may not be acceptable and does not directly address expectations about visibility. A strong communications plan aligns engaged stakeholders, supports timely decisions, and maintains confidence by making progress and risk information easy to access and reliably delivered.