Using the Delphi technique, your team constructed the following risks  register for the VoIP project containing the risk, the likelihood of its  occurrence on a scale of 1 (least likely) to 5 (mos

 Using the Delphi technique, your team constructed the following risks  register for the VoIP project containing the risk, the likelihood of its  occurrence on a scale of 1 (least likely) to 5 (most likely), and the  potential negative impact on the project on the same scale. In addition,  they recommended the appropriate response and identified its type for  one of the risks identified. 

Write a three to five (3-5) page paper in which you:

  1. Explain risk management and its associated activities and defend the need for a risk management plan.
  2. Describe the Delphi technique used to identify risks and infer n types of projects where this technique is most accurate.
  3. Examine the four (4) types of risk response (ie., avoidance,  acceptance, transference, and mitigation) and determine the appropriate  situation where each should be used.
  4. Complete the table with the risk response type (i.e.., avoidance,  acceptance, transference, and mitigation) and a description of the  response.
  5. Create a decision tree diagram with the software of your choice  (Word, PowerPoint, Visio, etc.) and make an OFFICE document or PDF to  address Risk Number 6.
  6.  Assume that when you check the schedule on day 60 of the project,  it becomes evident that two additional engineers are needed to ensure  on-time completion of the project. The engineers cost $25,000 each and a  fee of $120,000 is issued by the legacy provider. The probability of  completing the project on time is as follows: With the current personnel  – 60%; With one engineer – 80%; With both engineers – 98%.
  7. Fully explain your rationale in the document you create. How does  your decision tree flow? What are your decision points, and most  importantly, what is your recommendation and how did you arrive at this  conclusion? Is there a point of diminishing return where it would be so  expensive that it wouldn’t be worth it to employ the additional  resources? Why or why not? Be sure to use proper business communication  and consider your audience to be business leaders in the organization at  which you are employed. Remember, 100% original work is required.  Research on the Internet is fine, but do not submit work that is not  your own, and do not submit work that you’ve submitted anywhere  previously. Plagiarism detection tools will be used to ensure  originality.