Assignment 1: Project Proposal: Initiating & Planning Due Week 6 and worth 150 pointsNote: This is the first of three assignments which, as a whole, will cover all aspects of the project life cycle relevant to your selected project.You have been selected to be the Project Manager (for a project of your choice). The project that you decide to use should meet the key criteria of a project, such as (a) having a beginning and an end; (b) results in something being delivered to someone; (c) requires a series of activities that must be done to complete the project; and (d) requires resources (e.g., people, materials) to complete the work. The project must be one of a professional nature and must last for at least twelve months. NOTE: You are prohibited from using projects that can be found on the Internet, including projects found in places like CourseHero. All project submissions are submitted to Safe Assign for review.Write a two to three page paper, in which you define the scope of your chosen project. In your paper you must: Provide a brief summary of your chosen project. Describe at least three (3) project goals and three (3) project objectives. Identify the key customer(s) and at least two (2) stakeholders for your project. Remember, you are delivering the project to your customer(s); however, there are others (stakeholders) who have a vested interest in your project. Describe at least three (3) key milestones and /or deliverables for your project. Describe a high-level timeline that includes key tasks and deadlines. Estimate the project’s overall cost and any key staffing and non-staffing resources needed. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.Your assignment must follow these formatting requirements: Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.The specific course learning outcomes associated with this assignment are: Evaluate corporate strategy and the project life cycle phases to define the project and initiate a project plan.