Projects exist and operate within certain environments that influence value delivery. The project environment can yield both favorable or unfavorable impact of project characteristics, stakeholders, or project team. To be an effective project manager requires understanding the environment in which your projects operate and following appropriate project management principles.

1. Demonstrate your understanding of the concept of project environment in project management by discussing the key elements that constitute a project environment. With relevant examples explain how specific elements of project environment can impact project outcomes.

1. If you were hired as a project manager in a large organization, and you are tasked with leading a complex project that involves multiple teams and stakeholders. 
2. Discuss how you would apply four of the 12 principles of project management outlined in PMBOK 7 to ensure the project's success. 
3. Provide specific examples and explain how these principles would help address potential challenges and ensure effective project management.