PROJ 586 Week 4 Course ProjectNow that your project schedule has been created and your resources have been loaded, lets take a closer look at the cost of the project.Please provide these two deliverables (MS Project file and MS Word document) to the Week 4 Dropbox. Please refer to the course Syllabus for your due date.To help guide you through these deliverables, please follow the three step process below.Most projects have fixed costs to account for. These are such things as mortgages and other costs that do not change with production. Fixed costs need to be accounted for in projects. If your project has fixed costs, follow the following steps.The following steps should be followed when setting up your project fixed costs with Microsoft Project:Most projects have variable costs. These are costs that change with the amount of work being done. These are commonly seen as dollar per hour costs. Most of your resources will be dollar per hour costs. Follow the below steps to enter this data.Using this information, go back into the Resource Sheet to update the hourly rate for each resource.Using this information, go back into the Resource Sheet to update the hourly rate for each resource.Now that your project schedule has been created, your resources have been loaded, and your resource costs have been allocated, please analyze your results and answer the following questions.After you enter all of your resources, answer the following questions:Formulate the above responses into a two to three page essay report. Remember, the report must be to a level of clarity and depth that would be readily understood by the executive management. Do support your analysis with both in-text citation and references from the textbook, PMBOK Guide or other juried sources. Include a cover sheet and a reference page. Use APA style format, double-space, one inch margins, Times New Roman, and 12 point font size.