Hi Pramod,
That's a good question. At first, it may sound like “requirements” and “expectations” are the same thing, but it’s useful to make a distinction. Requirements are what someone needs to get out of your project, while expectations are what they think will actually happen.
Once you have a preliminary list of stakeholders, you should sit down with each one of them and figure out their responsiblities, goals, expectations, and concerns. For instance if you are organising a party and you've identified one of the stakeholders as the DJ.
Here's an example of what could be his requirements vs his expectations:
Requirements:
- Build a reputation as a great DJ
- Get hired back for another party later
Expectations:
- The venue will have a top class sound system
- The venue will advertise the party and will have a full house of people
Hope this helps.