Answering the below five questions in essay format, each question between 150 to 200 words.

1) Briefly define the following project planning terms:

A) Statement of work (SOW)

B) Work Breakdown Structure (WBS)

C) Project charter

2) What are the main risks associated with projects and what should be considered in a risk management plan?

3) What are the main problems associated with the cost management of project?

4) Describe briefly the project life cycle and say why it is important in project management

5) Project management is largely concerned with balancing cost, time and quality. Briefly describe what is meant by the term " Trade of analysis"