3000 Words- All New Content, not just copy the outline word for word, add content that will be used in project laterat least Three references In this first Individual Project, you are asked to develop the outline of the sections that will be included in the “Risk Management Strategy and Plan” document and a draft of a proposal to submit to your instructor. The other information you will include is a high-level description of the project you will be conducting the risk analysis on.You will also be setting up the final Key Assignment outline that you will add to each week. The combined Individual Project (IP) assignments will be your final Key Assignment deliverable.Project Selection:“BUILDING A HOUSE”Assignment:Your first task in this process will be to select a project to use as the basis of your Key Assignment. You will also create the shell document for the final project Key Assignment document deliverable that you will be working on throughout the course. As you proceed through each project phase, you will add content to each section of the final document to gradually complete the final project delivery, which is the Risk Management Strategy and Plan.The following project deliverables:Submit project proposal to instructor for approvalRisk Management Strategy and Plan Document ShellUse Microsoft WordTitle PageCourse number and nameProject nameStudent nameDateTable of ContentsUse auto-generated TOCSeparate pageMaximum of three levels deepBe sure to update the fields of the TOC so it is up-to-date before submitting your project.Section Headings (create each heading on a new page with TBD as content except for sections listed under “New Content” below)Project OutlineRisk Management JustificationProject Risks IdentificationProject Risks AssessmentProject Risks Responses StrategyProject Risks Management PlanProject Risks Monitoring & Control PlanProject Risks WBS & Budget UpdatesProject Risks Communications PlanNew Content to be Inserted in Above ShellProject OutlineBrief description of the project. The milestones and/or WBS for the project.Material can be taken from approved proposal submitted to the instructor, and this will serve as the draft for the proposal.Be sure this project is approved by the instructor.Risk Management JustificationDiscuss why risk management is so important to the success of the selected project in a letter to the project sponsor.Describe the steps that will be used to develop the Risk Management Plan.Represent this process in a flow diagram as well.Project Risks IdentificationStart brainstorming, at a high level, on some categories where risk could occur in this project (Note: you will continue this brainstorming activity in the next week with specifics, likelihood, and impact).