PMP Practice: Ensure Shared Vision with Stakeholders

Pepper Lindström-Ali is leading a project for Coral Reef Fintech to develop an AI-powered content moderation tool. The client, a social media platform, has expressed concern that emerging regulations around digital safety may significantly change their requirements within the next six months. The executive sponsor wants the project managed using a traditional waterfall approach because 'that's how we've always done enterprise software projects.' However, three weeks into requirements gathering, the stakeholder group has already proposed fifteen conflicting feature priorities, and the legal team warns that two different regulatory frameworks may take effect during the project timeline. The product owner and development team are requesting more flexibility to adapt as regulations become clearer. What approach should Pepper recommend to best ensure all stakeholders maintain a shared vision throughout the project?