Answer the following:

1. Explain the Delphi technique? What is it used for?

2. Define and explain the critical steps to a watertight risk management process?

3. Define the difference between a contingency plan and a mitigation plan?

4. Define and explain the risk response strategies for positive and negative risks?

5. How to make a contingency plan? Explain in detail, give examples where possible.

6. What Is a Risk Response Plan?