A project manager for a strategic initiative learns a new stakeholder is interested and wants them fully informed of the project's goals, objectives, benefits, and risks. What should the project manager do to improve the project's chances of success?

Scheduling a meeting with the new stakeholder is the best first step. This allows the project manager to directly engage, understand their specific interests and expectations, and provide a tailored overview of the project. It also helps build rapport and trust, which is crucial for successful stakeholder management. While sharing status reports, updating the engagement plan, and adding them to the communications plan are all important subsequent actions, they are less effective as initial steps. Status reports alone might not provide the necessary context or allow for questions, and updating plans without prior direct engagement could lead to misaligned communication strategies.