PK0-005 Exam Dumps : CompTIA Project+ Certification (2025)

Transfer is a risk management strategy that involves shifting the responsibility or impact of a risk to a third party, such as an insurance company, a vendor, or a contractor1. By buying an extended warranty for a set of servers, the project manager is transferring the risk of server failure or malfunction to the warranty provider, who will cover the cost of repair or replacement in case of a risk event. This way, the project manager reduces the exposure and liability of the project to the risk, while still retaining some level of accountability and oversight2. References = CompTIA Project+ PK0-005 Certification Study Guide, Chapter 8: Planning Projects Part 4, page 245; 4 Risk Management Strategies for Successful Project Execution, Risk transferring section; How to Manage Project Risk: A 5-Step Guide, Risk treatment section.

An RFP (request for proposal) is a document that solicits proposals from potential vendors for a specific project or service. An RFP typically describes the project scope, requirements, evaluation criteria, and instructions for submitting proposals. An RFP is the best document for the company to use to obtain and compare information on cabling services and costs from various vendors, as it allows the company to evaluate the vendors’ qualifications, experience, approach, and pricing12.

The next step after defining tasks, durations, resources, and costs is to establish baselines. A baseline is an approved version of a project plan that serves as a reference point for measuring progress and performance throughout the project lifecycle. A baseline typically includes scope, schedule, cost, quality, and risk parameters. Establishing baselines involves presenting the project plan to key stakeholders and obtaining their formal agreement on the project objectives and deliverables. Baseline approval can help to establish clear expectations, avoid scope creep, and facilitate change control during project execution34