Building from the project you created in the first unitcomplete the following:Identify all of the costs involved in the project. Label thecosts either direct cost project overhead costs or general andadministrative overhead costs.Develop a time-phased budget for the project. What will bethe cumulative cost of the project?Identify areas in the budget where cost cutting can be madeif needed?Identify and assess one major and one minor risk inherent tothe project. Develop a contingency plan for each of theserisks.