A project manager is responsible for successfully coordinating and executing a project on time and on budget to meet stakeholder needs. The first question a project manager should ask is "why" - what is the business reason and value of the project. Projects originate from changes in strategy, technology, stakeholder needs, regulations, or organizational changes. The typical project lifecycle includes initiation, planning, implementation, and closeout phases with "gateway" reviews between phases to manage risk and ambiguity. Project management approaches range from traditional predictive methods to more adaptive iterative methods suited for environments with frequent change. Key focus areas for project managers include scope, schedule, cost, quality, risk, communication, and stakeholder expectations.