Planning is the process of defining goals, objectives, and strategies for achieving them. It is an essential function of management that helps in reducing uncertainties, providing directions and focusing on achieving objectives. The correct option is 'D', which means all of the above are features of planning.

Let's discuss each of these features in detail:

1. Provides Directions: Planning provides a roadmap for achieving the desired objectives. It helps in defining the direction and purpose of the organization. It ensures that all activities are aligned with the overall goals of the organization. Planning provides clarity and direction to the employees, which helps in improving their efficiency.

2. Reduces the Risks of Uncertainty: Planning helps in reducing the risks of uncertainty by anticipating future events and taking proactive measures to deal with them. It helps in identifying potential risks and challenges and developing contingency plans to mitigate them. Planning also helps in identifying opportunities that can be capitalized on to achieve the desired objectives.

3. Focuses on Achieving Objectives: Planning is focused on achieving specific objectives. It involves setting clear and measurable goals and developing strategies to achieve them. Planning ensures that all activities are aligned with the objectives of the organization. It helps in improving the performance of the organization by providing a clear direction and purpose.

In conclusion, planning is an essential function of management that provides directions, reduces the risks of uncertainty, and focuses on achieving objectives. It helps in improving the efficiency and performance of the organization.