According to the PMBOK® Guide, the primary objective of Project Risk Management is to optimize the project ' s chances of success by proactively addressing uncertainty. Risk is defined as an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.

Positive Risks (Opportunities): The goal is to increase the probability and/or impact of these events. If an opportunity is realized, it can lead to benefits such as reduced cost, accelerated schedule, or enhanced quality.

Negative Risks (Threats): The goal is to decrease the probability and/or impact of these events. This involves planning responses to mitigate, transfer, or avoid threats that could jeopardize the project ' s constraints.

Overall Project Risk: Beyond individual risks, the process also aims to manage the overall project risk exposure to keep it within an acceptable range for the stakeholders.

Analysis of Other Options:

B. Avoid all kind of risks: This is impossible and undesirable. Every project involves some level of risk to achieve a reward. Furthermore, " Avoid " is only one specific strategy for negative risks; you cannot avoid " positive " risks if you want to benefit from them.

C. Increase the probability of positive risks and eliminate all negative risks: While increasing positive risks is correct, it is a common misconception that all negative risks can be eliminated. Many risks are inherent to the work and can only be mitigated or accepted. Elimination (Avoidance) is not always possible or cost-effective.

D. Identify positive and negative risks: Identification is merely the first step (the Identify Risks process). The " main objective " of the entire knowledge area is the active management and optimization of those risks, not just the act of listing them.