Monthly Status Reports. Assume you are the project manager for a software company, and your team is in charge of delivering an update to tax preparation software for the next tax season. The project team has ten software developers working together, but located across the country. You have the following information about the project, and need to provide a status to the sponsors. Please write a one page status report to the sponsors, providing a clear indication of status of the project. (suggestion Red, Yellow, or Green for status). The sponsors also like to only know the two most important risks, and what could be done to mitigate the risk if it happens. The conclusion of the status report must describe any requests for additional resources, if they are necessary.