What approach is best for managing stakeholder expectations?

The best approach for managing stakeholder expectations is through regular updates and transparent communication. This strategy fosters trust and builds a strong relationship between project teams and stakeholders. By providing consistent information regarding project progress, changes, and challenges, stakeholders are more likely to feel informed and engaged in the process. Transparency allows for an open dialogue, where stakeholders can share their concerns, provide feedback, and adjust their expectations in alignment with the project's realities. This collaborative approach can prevent misunderstandings and misaligned expectations, ultimately leading to a smoother project execution and positive stakeholder satisfaction.

The other choices highlight approaches that would typically lead to confusion or dissatisfaction among stakeholders. Minimizing communication can leave stakeholders feeling out of the loop, while only involving them at project completion denies them a voice during critical phases. Constantly changing project requirements without notice can create frustration and uncertainty, undermining the principles of effective expectation management.