Read the following statements. This project has a firm budget cap of $500,000, to include all analysis, development, and implementation work. Five of the previous seven IT projects have run over budget, as the procurement team requested cost estimates from contractors and vendors before finalizing scope. We have already emailed customers informing them of this new product launch and asked them for a prepayment, which may result in dissatisfaction and require us to offer refunds if we do not release the product on schedule