A project manager for a strategic initiative realizes a new stakeholder is interested in the project and wants to ensure the stakeholder is fully aware of the goals, objectives, benefits, and risks of the project. What should the manager do to enhance the success of the project?

While updating the stakeholder engagement plan is important for overall project management, it does not directly address the immediate need to inform the new stakeholder. The plan is a broader strategy that may not provide the specific interaction required to engage the stakeholder effectively at this stage.

Adding the new stakeholder to the communications management plan is a necessary step for future communications, but it does not facilitate immediate understanding or engagement. This option lacks the direct interaction that could clarify the stakeholder's role and interests in the project.

Sharing status reports can keep the stakeholder updated on progress, but this approach may not provide the comprehensive context needed about the project's goals, objectives, benefits, and risks. The reports are often technical and may not address the stakeholder's specific concerns or interests, making a meeting more effective.