Performing qualitative and quantitative risk analysis is considered part of which process?

Performing qualitative and quantitative risk analysis is considered a part of the risk management process because these analyses are essential components that contribute to understanding and managing risks throughout a project's lifecycle.

Qualitative risk analysis involves assessing the impact and likelihood of identified risks, prioritizing them based on their potential effect on project objectives. This step allows project managers and teams to focus on the most critical risks that could hinder success. Quantitative risk analysis quantifies the potential impact of these risks, often using statistics or simulations, providing a numerical basis for decision-making and resource allocation.

Both analyses are integral to the broader risk management process, which encompasses identifying, analyzing, responding to, and monitoring risks. In this structured process, the analyses help inform the development of risk response plans and strategies, ensuring a comprehensive approach to mitigating risks effectively and aligning with project objectives.

Other options, such as risk identification, risk monitoring, and risk response planning, represent specific phases within the broader risk management process. However, they do not capture the entirety of the analytical work involved, which is why the risk management process is the most accurate and encompassing answer.