Describe contract terms and conditions. Include all penalty clauses and specific events that will trigger execution of penalties. Include all notification information, including members of the organization to be notified of changes in contract terms.

Wrapping up the Project OverviewIn Unit II, you were required to complete components 1.1–1.3 in the Project Overview section. As you receive feedback from your professor, be sure to make improvements to your project plan.In Unit III, you are required to complete the rest of the Project Overview section (components 1.4–1.7) from your project plan. For this assignment, refer to your unit lesson and required unit resources to advance your project plan. You should now have the components from Unit II already developed (see below).1.Project Overview (due in Unit II)o1.1 Purpose, Scope and Objectives, and Business Case (due in Unit II)o1.1.1 Scope (due in Unit II)o1.1.2 Statement of Work (SOW) (due in Unit II)o1.1.3 Business Case (due in Unit II)o1.2 Project Deliverables (due in Unit II)o1.3 Project Organization (due in Unit II)For this assignment, continue this section by completing the components listed below.o1.4 Work Breakdown Structure (WBS): Provide a WBS for the project, including all key deliverables and work packages.1.4.1 Task Description Documentation1.4.2 Organization Breakdown Structure (OBS): Include all cost accounts across cooperating departments in the organization.o1.5 Responsibility Assignment Matrix (RAM): Include a copy of a RAM for the project that identifies all team members by WBS task code, including tasks for which they assume responsibility, notification, support, or approval upon completion.o1.6 Work Authorization: Describe contract terms and conditions. Include all penalty clauses and specific events that will trigger execution of penalties. Include all notification information, including members of the organization to be notified of changes in contract terms.