According to the PMBOK Guide, one of the key project management processes is stakeholder engagement1, which involves identifying, analyzing, planning, managing, and monitoring the stakeholders' expectations and involvement throughout the project life cycle2. The project manager should use effective communication and collaboration techniques to ensure that the stakeholders are aligned with the project vision, objectives, scope, and deliverables3. This will help to build trust, resolve conflicts, and enhance stakeholder satisfaction.
Meeting with the stakeholders regularly is an example of such a technique, as it allows the project manager to share project information, solicit feedback, address issues, and agree on common goals and plans. This is especially important for a project that involves multiple partners and has to comply with various standards and policies.
The other options are not the best ways to ensure project success, because they do not involve stakeholder engagement or collaboration. Option A is too authoritarian and may create resistance or resentment from the contracting partner. Option B is too passive and may result in loss of control or accountability for the project.
Option C is too unilateral and may ignore or conflict with the partners' needs and expectations. References:
* 1: PMBOK Guide, 6th Edition, page 513
* 2: PMBOK Guide, 6th Edition, page 515
* 3: PMBOK Guide, 6th Edition, page 518
* : PMBOK Guide, 6th Edition, page 520
* : PMBOK Guide, 6th Edition, page 524

Section: Initiation
Explanation/Reference:

Risk probability and impact are defined during Perform Qualitative Risk Analysis.