Assume you are the project manager for a software company, and your team is in charge of delivering an update to tax preparation software for the next tax season. The project team has ten software developers working together, but located across the country. You have the following information about the project, and need to provide a status to the sponsors. Please write a one page status report to the sponsors, providing a clear indication of status of the project. (suggestion Red, Yellow, or Green for status). The sponsors also like to only know the two most important risks, and what could be done to mitigate the risk if it happens. The conclusion of the status report must describe any requests for additional resources, if they are necessary.New items you learned this month about the project:There is a three day weekend in the coming monthNine of the developers are on track to finish their tasks 2 weeks early.One software developer took the recently announced ‘early retirement’ package, and is leaving in one week. He is confident he will be able to finish his piece of the work before he leaves.It is hurricane season in Florida, where three of the developers are located.The developer who is retiring is the only person who knows how to get approval for the final product from the IRS.The project costs are under budget and there has been no need for overtime.Provide a one page monthly status to the sponsors, in APA format.