A quantitative risk…

A quantitative risk assessment involves numerically estimating the probability of an event occurring and the potential impact it would have. This approach allows for a measurable and objective analysis of risks, which can then be compared and prioritized based on their quantified potential impact on project objectives.

References: The information is aligned with the principles of project risk management as outlined in the PMBOK® Guide and the Professional in Project Management (PPM) certification materials, which emphasize the importance of measuring the impact of risks to manage them effectively12.