The following tasks may be completed as a workplace project based on your own organisation and job role, or as a simulated workplace project based on a fictitious organisation, or an organisation you are familiar with.For the organisation where you conduct marketing activities, discuss the following:1. Research the characteristic principles and practices of these three types of project management approaches. Briefly explain the three different approaches.• Traditional• Critical chain project management• Agile project management2. In a table, compare and contrast each of the above project management approaches. Explain the principles and practices of each as they relate to:• consultation and stakeholder involvement• development of policies and procedures• methods of action to ensure performance• monitoring of timelines, budgets and other implementation plans• organisational procedures for engagement of consultants3. Research and explain how economic, social and industry directions, trends, and practices can have an impact on marketing functions.You are required to provide your assessor with the following documents:• A brief explanation of three project management approaches• A table that compares and contrasts the three project management approaches for stakeholder involvement, policies and procedures, performance, implementation monitoring and consultant contracting.• A brief explanation on the impact of economic, social and industry directions, trends, and practices on marketing functions