Managing projects in complex, multi-stakeholder environments presents significant challenges due to dynamic requirements, competing interests, and evolving external conditions. Traditional project management frameworks often struggle to accommodate the fluidity and unpredictability of such environments, necessitating adaptive strategies that balance agility, risk management, and strategic alignment. This paper explores Adaptive Project Management (APM) as a comprehensive approach that integrates agile methodologies, risk-based decision-making, and stakeholder engagement to ensure project success. Adaptive strategies leverage iterative cycles, continuous feedback loops, and flexible resource allocation to respond effectively to changing project landscapes. Agility plays a critical role in enabling teams to pivot quickly while maintaining alignment with overarching project goals. However, agility alone is insufficient in multi-stakeholder environments where competing priorities can introduce uncertainty. Risk management frameworks must be embedded within adaptive strategies to identify, assess, and mitigate both anticipated and emerging risks in real time. Furthermore, strategic alignment ensures that adaptive practices remain consistent with organizational objectives, regulatory constraints, and stakeholder expectations. Through a detailed analysis of case studies and best practices, this study provides actionable insights on integrating adaptive project management techniques into complex environments. Key findings suggest that successful project execution requires a hybrid approach that blends structured methodologies (e.g., PMBOK, PRINCE2) with flexible, agile-driven practices. The study also highlights the importance of leadership, collaboration, and digital tools in fostering adaptability. Ultimately, this research underscores the need for a context-driven project management paradigm, where balancing agility, risk, and strategy is essential for long-term success in volatile, multi-stakeholder ecosystems.