Which party is responsible for approving and managing the project's deliverables?

The correct answer is the customer, as they play a crucial role in the project by defining the expectations and requirements for the deliverables. The customer's approval is essential because they are the final recipients of the product or service being produced. Their acceptance signifies that the deliverables meet the specified criteria and requirements established at the project's outset.

In project management, ensuring that customer expectations are met is vital to project success. The customer typically provides feedback, participates in reviews, and ultimately signs off on the deliverables. This involvement helps ensure that the project aligns with their needs and satisfaction is achieved upon completion.

While other parties, like the project sponsor or the project team, may support and contribute to the project, it is the customer who has the final authority on whether the deliverables are acceptable based on their requirements. The project sponsor may champion the project and provide guidance, but it is the customer’s approval that validates the completion of deliverables.