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The conditional spectrum (CS, with mean and variability) is a target response spectrum that links nonlinear dynamic analysis back to probabilistic seismic hazard analysis for ground motion selection. The CS is computed on the basis of a specified conditioning period, whereas structures under consideration may be sensitive to response spectral amplitudes at multiple periods of excitation. Questions remain regarding the appropriate choice of conditioning period when utilizing the CS as the target spectrum. This paper focuses on risk‐based assessments, which estimate the annual rate of exceeding a specified structural response amplitude. Seismic hazard analysis, ground motion selection, and nonlinear dynamic analysis are performed, using the conditional spectra with varying conditioning periods, to assess the performance of a 20‐story reinforced concrete frame structure. It is shown here that risk‐based …