CAPM (Certified Associate in Project Management) Practice Exam

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What is the main goal of performing quantitative risk analysis?

To update the project management plan
To identify new risks
Numerically analyzing the effect of identified risks on overall project objectives
To assign resources to risk responses

The correct answer is: Numerically analyzing the effect of identified risks on overall project objectives

Quantitative risk analysis is used to assess and measure the impact of identified risks on the overall project objectives. This includes assigning numerical values to risks, analyzing their potential effects, and prioritizing the risks based on their potential impact. This process is not used to update the project management plan (option A), as that is typically done during risk planning. Identifying new risks (option B) is part of the risk identification process, not the quantitative risk analysis process. Assigning resources to risk responses (option D) is done during risk planning and is not the main goal of quantitative risk analysis.