Answers:
Economic feasibility of a project: Economic feasibility evaluates cost-benefit ratios of the different technological options available and projects the rate of return for the project’s expected lifespan. Financial feasibility deals with all of the potential costs associated with the project. A detailed feasibility analysis is the most important output from the initiation phase of scope management.
Need for project planning:
The purpose of project planning is to identify various areas of the project work and the influencing factors, and subsequently define the boundaries of the project performance. In addition, scope of the project also needs to be explicitly mentioned in the list project objectives. Further it serves as a guide through its well defined directions to perform the project.
Planning is basic to all human activities and requires common sense. It is a trap laid down to capture the future. It helps in bridging the gap between where you are to where you want to be. In a way, the complexity of the process aids in identifying the implication of such a plan and whether it relates to immediate future or a long term perspective.
Diversity management: Diversity management is a management strategy to promote and maintain a positive workplace environment in the organization. It is crucial for growth in today’s competitive marketplace.
Diversity management works on the principle of “acceptance”. Diversity management inspires the employees to recognise that everyone is different.
They should not be afraid or be biased about these differences. Employees are encouraged to live with the fact that there are different interests, different values, and different physical and emotional characteristics present in the organization. Also, this does not have to obstruct the productiveness or produce conflict.
Rules for network construction:
The rules to be observed in constructing the network diagram are discussed below: 
Every activity must have a preceding and a succeeding event. An activity is numerically represented by the pair of preceding and succeeding events. In the dinner project, for instance, the activity ‘send invitations’ is designated as (1-2).
1. Each event must have a distinct number. The number specified to an event can be chosen in any way, provided this condition is fulfilled. In practice, yet, events are numbered in the manner that the number at the head of the arrow is greater than that at its tail.
2. There must not be any loops in the project network; a situation similar to the one shown in above Figure is not permissible.
3. The preceding and succeeding events are not same for more than one activity. This signifies that every activity is represented by a uniquely numbered arrow and a situation depicted in below Figure is not permissible.
Below Figure shows a variant of above Figure with a dummy activity (3-2) introduced to conform to the rules of network construction.
A dummy activity is also be used for representing a constraint, obligatory to show proper relationship between activities.