Fred is the project manager of the PKL project. He is working with his project team to complete the quantitative risk analysis process as a part of risk management planning. Fred understands that once the quantitative risk analysis process is complete, the process will need to be completed again in at least two other times in the project. When will the quantitative risk analysis process need to be repeated?

Quantitative risk analysis process will be completed again after the plan risk response planning and as part of procurement.

Quantitative risk analysis process will be completed again after the cost management planning and as a part of monitoring and controlling.

Quantitative risk analysis process will be completed again after new risks are identified and as part of monitoring and controlling.

Quantitative risk analysis process will be completed again after the risk response planning and as a part of monitoring and controlling.