Which activity is NOT typically performed during an inception sprint?

The activity that is not typically performed during an inception sprint is conducting final project evaluations. Inception sprints primarily focus on initial planning, gathering requirements, and defining the project vision rather than evaluating the overall project. The purpose of the inception phase is to ensure that all team members and stakeholders have a clear understanding of the objectives and requirements before the development starts.

During an inception sprint, discussing user stories is crucial, as it helps the team understand user needs and prioritize features for development. Demonstrating completed product features is also not common at this stage since an inception sprint is about laying the foundation for future sprints rather than showcasing finished work. Lastly, updating the backlog with estimates is important during this phase as it aids in planning and helps in defining the scope of upcoming sprints.

Thus, conducting final project evaluations falls outside the scope of the inception sprint, as it occurs much later in the project's lifecycle after features have been developed and deployed, making it the correct answer to the question.