Read chapter Chapter. 11 Managing Project Teams and Chapter. 12 Outsourcing: Managing Interorganizational Relations from Larson, E. (2021). Project Management - The Managerial Process, 8th Edition, ISBN: 9781260238860.

Provide a graduate-level response to each of the following questions:

1. Assume that you have the following decision-making options: (1) make the decision on your own with available information, (2) consult others before making a decision, and (3) call a meeting and reach a consensus, seeking to arrive at a final decision everyone can agree on. Which approach would you use to make each of the following decisions and why?

• You are the project leader for Casino Night on campus, a charitable event organized by your group to raise money for the homeless. The event was a big success, garnering a net profit of $3,500. Before the event, your team researched nearby organizations that support the homeless and to whom the money could be given. You narrowed the choices to the "Chunk of Coal House" and "St. Mary's Soup Kitchen." Eventually, your group decided that the funds be given to Chunk of Coal. You are about to make a check to its director when you read in the local newspaper that the Chunk of Coal House has terminated operations. What should you do with the money?
• You are the leader of a new product development project. Your team has worked hard on developing a third-generation product that incorporates new technology and meets customer demands. The project is roughly 50 percent complete. You have just received a report from the marketing department detailing a similar product that is about to be released by a competitor. The product appears to utilize radical new design principles that expand the functionality of the product. This poses a serious threat to the success of your project. Top management is considering canceling your project and starting over again. They want you to make a recommendation.