Project management clip from Big Bang Theory

Business leaders face a rapidly moving and unforgiving global marketplace that will force them to use every possible tool to sustain competitiveness. A good project manager understands not only the fundamentals of project management but also how to effectively deal with change management and risk management. Answer the following questions after watching the videos below. Be sure to use complete sentences and complete thoughts. Not less than 250 words to your answers.
Why projects fail before they start?
Why projects fail before they start? The Expert (Short Comedy Sketch) (Links to an external site.)
Why projects fail: Top 10 reasons for project failure.
https://www.youtube.com/watch?v=CTHHiBNXJ6w (Links to an external site.)
Project management clip from Big Bang Theory
Project Management Clip from Big Bang Theory (Links to an external site.)
 

1. What are the essential elements for any project? Why do projects fail?
2. What is the Systems Development Life Cycle (SDLC)?  EXPLAIN IN DETAIL. Which phase in the systems development life cycle contains the most risk? why?
3. What are the trade-offs between cost, quality(scope), and time when designing a project plan? What criteria should managers use to manage this trade-off?