
schlank
slim
Describing a person or body that is thin and narrow in a way perceived as attractive.
Durch regelmäßigen Sport und gesunde Ernährung hat er eine schlanke Figur bekommen.
Through regular exercise and healthy eating, he got a slim figure.
slim / lean
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slim
Describing a person or body that is thin and narrow in a way perceived as attractive.
Durch regelmäßigen Sport und gesunde Ernährung hat er eine schlanke Figur bekommen.
Through regular exercise and healthy eating, he got a slim figure.

lean
Used figuratively for processes, structures, or organizations that are designed to be efficient, economical, and without unnecessary elements.
Das Unternehmen führte eine schlanke Produktion ein, um Kosten zu senken und schneller zu werden.
The company introduced lean production in order to reduce costs and become faster.

small / tight
Describing a quantity or amount that is rather small, limited, or meager.
Mit einem so schlanken Budget können wir uns keine großen Extras leisten.
With such a tight budget, we can't afford any big extras.
When 'schlank' describes a person, animal, or object, it means 'thin and narrow.' When it refers to abstract nouns like 'Prozess' (process), 'Budget' (budget), or 'Verwaltung' (administration), it is used figuratively to mean 'efficient' or 'limited.'
Das neue Handy-Modell ist sehr schlank und leicht.
The new phone model is very slim and light.
When describing people, 'schlank' usually has a positive connotation. It implies not only that someone is thin, but also that the person looks fit, elegant, and attractive.
Sie ist auch im Alter noch sehr schlank und sportlich.
She is still very slim and athletic even in old age.
This figurative meaning is especially common in business and administration. There, 'schlank' describes processes, hierarchies, or production systems that do without unnecessary elements and are therefore very efficient.
Durch eine schlanke Verwaltung konnte das Unternehmen viel Geld sparen.
Through lean administration, the company was able to save a lot of money.
scarce / just under / close
Knapp describes resources that are barely sufficient in relation to the need. Schlank, by contrast, refers to a deliberately economical and efficient structure without unnecessary elements. If a project lacks the necessary money or staff, knapp is the right word; if its organization has been deliberately streamlined, schlank is the better choice.

Das Projekt hat eine schlanke Organisation, weil klare Zuständigkeiten unnötige Arbeit vermeiden.
The project has a lean organization because clear responsibilities prevent unnecessary work.
Das Projekt hat nur knappes Personal, sodass nicht alle Aufgaben rechtzeitig fertig werden.
The project has limited staff, so not all the tasks will be completed on time.