Free CompTIA PK0-005 Practice Exam with Questions & Answers | Set: 11

Sharing a resource like an API between projects to leverage each project's strengths and reduce duplicated efforts is a risk-sharing strategy. CompTIA Project+ outlines risk-sharing as a way to capitalize on opportunities or mitigate project constraints.

A project manager who makes a company-wide announcement about the successful completion of a project and thanks team members is doing the following:

Celebrating the team’s hard work: This is the correct answer, as the project manager is acknowledging the efforts and contributions of the team members and showing appreciation and recognition for their performance12.

Bringing attention to the project sponsor: This is not the correct answer, as the project manager is not highlighting the role or involvement of the project sponsor, who is the person who provides the resources and authority for the project.

Sharing lessons learned: This is not the correct answer, as the project manager is not discussing the successes, challenges, or best practices of the project, which are part of the lessons learned process.

Collecting feedback: This is not the correct answer, as the project manager is not soliciting any input or opinions from the team members or other stakeholders, which are part of the feedback process.

The current stage of the project team is norming, which is the third stage of the five stages of team development. In this stage, the team members have resolved their conflicts and differences, and have established a sense of cohesion and collaboration. They are more productive, supportive, and cooperative, and they follow the agreed norms and rules of the team. They also communicate effectively and seek feedback and assistance from each other. The norming stage is preceded by the forming stage, where the team members get to know each other and the project goals, and the storming stage, where the team members experience disagreements and challenges. The norming stage is followed by the performing stage, where the team members work efficiently and autonomously towards the project outcomes, and the adjourning stage, where the team members complete the project and celebrate their achievements. References = CompTIA Project+ Study Guide: Exam PK0-005, 3rd Edition, Chapter 11: Team Management1; CompTIA Project+ Certification Study Guide, 3rd Edition, Chapter 11: Team Management2; The 5 Stages of Team Development (Including Examples)3

The project sign-off is the formal acceptance of the project deliverables by the client, stakeholder, or customer. It also marks the closure of the project and the release of the final payment. If the project sign-off is not completed, the project may still incur costs and liabilities, which can explain the losses in the financial report. Therefore, the project manager should complete the project sign-off as soon as possible to avoid further losses12.

According to A Guide To Schedule Updating in Project Management, one of the best practices for effective schedule updating is to perform an impact analysis before making any changes to the schedule. An impact analysis helps the project manager to assess the effects of the change on the project scope, cost, quality, risk, and stakeholder expectations. It also helps to identify the best options for resolving the issue and minimizing the negative impacts. By performing an impact analysis first, the project manager can make informed decisions and communicate them clearly to the project team and stakeholders.

A rollback plan, also known as a backout plan, is a strategy designed to reverse changes made during a project in case of failure or undesired results1. A rollback plan is a form of risk response that allows the project to restore the previous state and minimize the impact of the issue. A rollback plan is usually created during the planning phase and implemented during the execution or closing phase of the project. The other options are not correct because:

A compliance check is a process that ensures that the project meets the relevant standards, regulations, and requirements. A compliance check is not a risk response, but rather a quality control or assurance activity.

A release plan is a document that outlines the scope, schedule, and resources for delivering a product or service to the customer. A release plan is not a risk response, but rather a communication or scope management tool.

A validation check is a process that verifies that the project deliverables meet the customer’s needs and expectations. A validation check is not a risk response, but rather a quality control or assurance activity. References = CompTIA Project+ Study Guide: Exam PK0-005, 3rd Edition, Chapter 10: Executing and Closing Projects, page 314; CompTIA Project+ Certification Exam Objectives, Domain 3: Project Execution, Objective 3.2: Given a scenario, execute and monitor project tasks using traditional methodologies; Backout Plan - DevX

When analyzing the backlog to decide what to include in the next sprint, the most important aspect to consider is the impact to the project. This involves assessing which items will provide the most value and contribute significantly towards achieving the project goals. It’s crucial to prioritize work that has the highest impact on the project’s success.

References = The answer is based on standard agile project management practices, particularly in the context of sprint planning where prioritization is key. For detailed information, please refer to the CompTIA Project+ Study Guide and other official CompTIA resources