2) Explain why it is important for project managers to understand their organization's strategy; identify the significant role projects contribute to the strategic direction of the organization. 1. Answer all five questions: (10 marks) 1) What are five characteristics which help differentiate projects from other functions carried out in the daily operations of the organization? 2) Explain why it is important for project managers to understand their organization's strategy, identify the significant role projects contribute to the strategic direction of the organization. 3) Understand the need for a project priority system and the need to manage the project portfolio; 4) Understand how and why multi-criteria models can be used to select projects. 5) The portfolio of projects is typically represented by compliance, strategic, and operations projects. What impact can this classification have on project selection