Correct Answer: AWhen faced with the critical stakeholder's concern about the project schedule, the first step the project manager should take is to organize a new schedule framing meeting with the stakeholder. This approach allows the project manager to directly address the stakeholder's concerns, gather necessary input, and make informed adjustments to the schedule if needed. By involving the stakeholder in the scheduling process, the project manager ensures that all key perspectives are considered, which promotes collaboration and helps in creating a more realistic and agreeable project timeline.