NOTE: Each unit in this class contains a lab assignment that deals with a project. Be careful selecting your product or service. You’ll use this same topic for each of the unit lab assignments.. NOTE: Each unit in this class contains a lab assignment that deals with a project. Be careful selecting your product or service. You’ll use this same topic for each of the unit lab assignments.You have been assigned to develop a new product or service for your organization. In this first lab assignment, you will build the project plan.Topic Below:If you are in IT Management, is there a new software package that would improve the operation of your business? Is there a new piece of computer hardware that would improve your computer operations?Your Project Plan must meet the following criteria:Write your report in essay form, using bullet points only where appropriate.If you use outside resources (and you should!), cite your sources using APA format. This includes information that you use from your textbook as well! Use the double citation reference system: The first is a parenthetical ( ) citation in the text of the report where the research material is used. The second citation is in the References page where full reference details are given.Use American Psychological Association (APA) style to format your paper, regardless of whether you use additional resources or not. You do NOT need an Abstract. The Overview takes the place of the Abstract. Here is a helpful link for information on APA style:ÿhttps://owl.english.purdue.edu/owl/resource/560/01/ÿ(Links to an external site.)Links to an external site.Use correct spelling, punctuation and grammar.You report should be a minimum of 3 pages and no more than 5 pages in length including the reference page.The content for your Project Plan should include the following:Background Analysis/Overview of the ProjectDevelop a project scope write-up for the project you selected. Your write-up should explain your project concept, constraints and expectations. Concentrate on the big picture. You don’t need to go into specific details.ObjectivesIdentify your goals and targets.General ApproachDetermine your Project management approach.Supply your project constraints and/or resource requirements.There is a sample project plan that you can follow for this report on page 67 in your textbook: Project Management: Achieving Competitive Advantage, by Jeffrey Pinto, 3rd Edition.Please make sure there is no plagirism in your work as it will be checked through chalk and wire by instructor.