Business operating management

Read the files(lectures), and answer those 3 questions: each question need at least 400 words. (1200+ words in total)

1. Why is it important for business units to continually revise their product or service offering? What new products or services is your employer, or an organization you are familiar with, considering? Recommend some metrics that could be used to measure the performance of the new product or service.
2. What is project management? What is the definition of a project? What are the basic components of project management? What is the role of a project manager? Can you describe these topics in the context of a project being done within an organization of your choice?
3. Pick a process in your organization and describe its purpose and steps. Can you determine success criteria for each step in your selected process? What are the inputs and outputs for each step? Are there any timing considerations? Could the process be improved? (Paper Topic)