The allocation and cost of resources need to be carefully monitored if a project is to be delivered on-time and on-budget.At a minimum, this assignment will contain an update to theMicrosoft® Projectfile submitted in Week Three, including the following:Allocation of resources to project tasks (both labor and material), shown as resource assignments in the Microsoft® Projectfile(1 hr.)Cost estimates for project resources, entered into the resources information portion of the Microsoft® Projectfile(hr 0.5)Develop a baseline for your project plan so that all future variances are captured. (hr 0.5)In addition,writea 1-page summary document explaining any relevant facts about the project duration, number or type of resources, critical task sequencing, or how duration estimates were arrived at, and any financial implications (for example, budget or cost reports of the project as well).SubmityourMicrosoft® Projectfile and summary document using the Assignment Files tab.