Case 7.3 Trans LAN Project Trans Systems is a small information system consulting firm located in Meridian, Louisiana. Trans has just been hired to design and install a local area network (LAN) for the city of Meridian’s social welfare agency. You are the manager for the project, which includes one Trans professional and two interns from a local university. You have just finished a preliminary scope statement for the project (see below). You are now brainstorming potential risks associated with the project.Ensure that the Risk Assessment Form, Risk Response Matrix, Risk Severity Matrix are included in the same Microsoft Excel File. Submit 1 Microsoft Excel File and 1 Microsoft Word File.Combine items Question 1 and 2 into a single Risk Assessment Form (Figure 7.6 see attachment), Question 3 for the Risk Response Matrix (Figure 7.8 see attachment). Note that additional items may be added to the Risk Assessment Form and the Risk Response Matrix.1. Identify potential risks associated with this project. Try to come up with at least five different risks.2. Use a risk assessment form similar to Figure 7.6 (see attachment) to analyze identified risks.3. Develop a risk response matrix similar to Figure 7.8 (see attachment) to outline how you would deal with each of the risks.In addition to the requested items in the case, complete the following:1. Based on the risks that you identified on the Risk Assessment Form, create a Risk Severity Matrix (Figure 7.7 see attachment). Note: additional information beyond the information can be used2. Make any assumptions and document them as necessary to complete the aforementioned items.3. Based on the information in Appendix 12.1 (see attachment), evaluate what type of contract(s) might be applicable to this project if you were to outsource certain aspects of your project to suppliers. Ensure that you justify your supplier contractual decisions based the inherent risks related to your selected contract type(s). Make any assumptions and document them accordingly. Ensure that at least 350 words are provided. Place your responses into a Microsoft Word file.