Today’s business environment requires competency in project management. In this assessment, you will explain how project management concepts can help an organization achieve its goals. You will take on the role of a market owner who goes through all five phases of project management i.e., initiation, planning, execution, control, and closure) to launch a new catering service. As you complete the assessment, think about past projects you have initiated, planned, executed, controlled, and closed. Your experience in planning past projects can help you recognize possible risks and functions that will need to be managed in this performance assessment.