PS Development In BI BW

Dear Experts,

I am deployed to develop PS in BW 3.5 BI 7.0. I am working for the first time.

I am familiar with LO extraction hence hope to gather information from SCN. For this i have few queries to be answered and suggestion by you.

1.What are the initial phases i have to perform

2.What are settings and configuration I have to do both side(ECC/BW)

3. How should I escalate my project.

4. What are the things I have to analyse to which area start developing standard report

5. Whether to use BW concept of Transfer Rules and updates Rules or BI 7.0 Transformation and Migrations.

Please guide me in detail.

Thanks in advance.

Thanks

Taniya