A product company is changing how it develops and releases products. Executives view this as a high-risk initiative that must succeed. What should the project manager do?

The correct answer is to adopt an iterative rollout approach that delivers the highest business value earlier. For a high-risk initiative, an iterative approach allows for early feedback, course correction, and incremental value delivery, reducing overall risk and increasing the likelihood of success. This aligns with agile principles, which are often beneficial for complex, high-risk endeavors. Developing a business case is a good initial step but doesn't address the high-risk nature of the implementation. Creating a communications management plan is important but is a supporting activity, not the primary strategic approach for managing a high-risk initiative. Developing a detailed sprint plan is a tactical step within an iterative approach but doesn't define the overall strategy for managing the high risk.