As the program manager, your role is to direct the overall set of projects (program). This includes the facilitation of stakeholder engagement. Each project will have a designated project manager in charge and will be reporting to you directly for assistance. Project 1 Requirements: The Project team has been given the task of identifying an E-commerce opportunity for Sporty Socks and developing a proposal to put to the board of directors. For example, the team could decide to propose setting up an online business in which customers design their own custom socks and underwear. The budget for setting up the E-commerce venture is $30,000. The CEO at Sporty Socks has mentioned that he would like the website to be up and selling socks online within the next three months. Task requirements For the proposed E-commerce venture, the project team will need to determine: Value proposition: What will you offer consumers? What product? What price? What quality? How will it benefit your customer? Who your target market is: What are the characteristics of the people who will buy your product? What do they need or desire? How you will gather necessary information for setting up the venture? Who you will consult or network with to benefit from others' expertise? What steps you will need to take to set up the E-commerce venture, from website design, to ensuring a system for payment, to establishing an online presence through web search engines, etc. How you will determine the benefit to Sporty Socks: What is the benefit? Reduced costs? Increased productivity? How you will determine cost.