Hi i need for this question just 3 to 5 lines for each question this is discussion part in my subject Project Portfolio Selection :1) An effective Project Portfolio does not just happen. There is a process that must be developed and then followed to help ensure a successful portfolio. Let’s start this discussion by examining what decisions must be made before a project is actually looked at or considered.2) As you examine the preprocess stage, thoroughly explain methodology selection and strategy development. Be sure to give examples.3) All the areas of portfolio selection are essential in creating an effective portfolio. So let’s end this discussion with project development and project evaluation. What is it and why is it important to project success? Be sure to share examples and personal experiences.Portfolio Management Process :1) Define the process groups and knowledge areas included in the portfolio management process and explain what happens in each area. How do these areas interact with one another as a group?2) Bender (2010) suggests the importance of understanding the project management framework and structure for portfolio management. Do you agree? Why or why not? Why is it important to understand this framework in order to follow the portfolio management process?3) How do you ensure that the project is done right? What is the PM’s responsibility in this endeavor?