In project management, it is crucial to manage stakeholder expectations effectively. This can be achieved by clearly specifying the scope and features in the contract. This approach aligns with the PMBOKGuide's emphasis on clear communication and setting realistic expectations. By defining the scope and features clearly, the project manager can set boundaries and manage both customer and third-party expectations, which is essential for project success. This strategy helps prevent scope creep, ensures that all parties are on the same page, and facilitates smoother coordination among all stakeholders involved.
References: (PMBOKGuide - Sixth Edition, Section 1.2.3.1 - Project Scope Management)