A project manager has been assigned to lead a project with limited funding and resources.

When resource constraints conflict with the full scope of stakeholder requirements, the project manager should first facilitate a requirements prioritization workshop. This allows stakeholders to collaboratively identify the most critical features and align scope with available resources.

The PMBOK® Guide – Seventh Edition emphasizes value delivery and stakeholder collaboration in prioritizing scope based on constraints. Requirements workshops are standard tools in scope planning and requirements elicitation.

Option B makes unilateral scope decisions, which could lead to stakeholder dissatisfaction.

Option C is valid, but only after the team jointly prioritizes based on business need.

Option D skips proper prioritization and assumes the budget can be increased, which may not be feasible.