At the initial project meeting, a stakeholder challenged the project's validity after learning it won't meet their expected objectives and will cost more. How should the project manager handle this complaint?

The correct approach is to reinforce the project's mission and overall vision. This helps re-align the stakeholder's perspective with the project's strategic goals, reminding them of the value and purpose despite perceived challenges. While cost and objective concerns are valid, the initial response should be to reiterate the project's fundamental justification. Explaining cost increases and negotiating with suppliers (first option) is a subsequent action, not the immediate response to a stakeholder challenging validity. Persuading the stakeholder to accept costs (second option) is confrontational and doesn't address their underlying concern about validity. Postponing discussions and asking sponsors to revise (third option) is premature; the project manager should first attempt to address the stakeholder's concerns directly by re-establishing the project's value proposition.