Discuss the various methods (at least 2) for managing and controlling stakeholder expectations

Just as things continue to go well for the project you are faced with a dilemma with your project stakeholders. You have a discussion with the Marketing Director, and he indicates that he wants to utilize the anniversary event to showcase some of the company’s new products and upcoming campaigns. He as even gone as far as to suggest bringing in suppliers and vendors to participate in the event. Word of this gets to the Director of Operations and he points out to you that the backbone of the company are the people that build our products and they feel that they were under appreciated in the last company anniversary event. Why should we pay to have suppliers come and enjoy our company event? As project manager how will you handle this situation towards a positive and constructive outcome?.
For this discussion:
1) Discuss the various methods (at least 2) for managing and controlling stakeholder expectations
2) Explain why these are important to project success
3) Discuss how you will apply these with respect to the dilemma with the Director of Marketing and the Director of Operations
4) Provide a solution for moving forward
Required length is 500 words narrative for elements (1) through (4) above

Ref project
Welcome to Electronics International (EI), a business that is a worldwide leader in consumer electronics. As a mid-level project manager for EI, the CEO of this large corporation has tasked you to serve as the project manager for the upcoming company’s 50th anniversary celebration that is to take place this summer. You are fortunate enough to work at the company headquarters located in Seattle, Washington however there are other divisions of the company located throughout the country in Chicago, New York, and Los Angeles. In all, the company consists of over 3000 individuals.

The CEO has indicated to you that the 40th anniversary celebration could have been executed more effectively as there were several individuals within the headquarters and at other divisions that felt excluded from the event. Additionally, vendors were not aligned well with entertainment, staging, or the celebration dinner. Communications throughout the project life cycle were often fragmented, inconsistent, and often not well understood.

Having successfully planned and executed the recent C-Suite golf tournament, the CEO is confident that you can put your talents to work on a larger stage and make the 50th anniversary a most memorable event. Given the large scale of the event, you know that there is much that you will need to consider in making sure this event is a success.

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