CompTIA Project+ PK0-005 Practice Question

To perform effective impact analysis, the project manager should evaluate both the likelihood of the risk occurring and its potential impact on the project objectives. This involves assessing how probable it is that the software library will become deprecated and determining how that would affect the project timeline, costs, and deliverables. This is the correct approach as reflected in the first option. Adding the risk to the issue log (second option) is inappropriate because issues are current problems, whereas risks are potential future events and should be recorded in the risk register. Finding an alternative library and updating the project plan (third option) without assessing the risk may lead to unnecessary work and could disrupt the project unnecessarily. Ignoring the risk (fourth option) neglects proper risk management practices and could lead to unmitigated problems later.