Explain the benefits to the business of using project management methodology.

Your new knowledge of project management and experience at Roto Air has earned you a promotion to a senior project manager. Roto Air has recently purchased a smaller company that is the current supplier of electro-mechanical assemblies used in the Quick Drop 100. After your first visit to the new company you find that there is no formal project management system in use and that local management is not aware of the advantages of using project management principles. Your assignment is to educate the new management team and prepare them to welcome and integrate project management skills and tools into their operations. To do so, you will prepare a persuasive, factual report that:

1. Define a project and project management and differentiates routine operations.
2. Explain the benefits to the business of using project management methodology.
3. Describe the role and importance of a project sponsor.
4. Examine the benefits of using project teams and methods of developing them and improving communications.
5. Outline the project life cycle.