What are the advantages disadvantages of VoIP?

Advantages:
- You can make a call anywhere the Internet can reach
- Per minute cost savings and equipment cost savings on the PBX
- It has more features that it has adopted from Internet technologies
Disadvantages:
- Security, all the same risks as can be found with any IP technology          
- High cost for IP phone                                       
- SIP phones cannot share extensions, one SIP phone per extension
- High IP bandwidth consumption        
- Delay time, Echo
- May have no emergency service such as 911...
- You require some form of IP service to make a phone call
                                       

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