What role does a risk management plan play during construction?

A risk management plan is essential during construction because it specifically identifies and mitigates potential risks that could impact the project's success. This involves assessing various risks—such as financial, safety, environmental, and project-specific risks—and establishing strategies to minimize their likelihood and impact. By proactively addressing these risks, the plan helps ensure that the construction project stays on track, within budget, and meets quality standards. This foresight can prevent costly delays and rework, ultimately contributing to the overall success of the project and safeguarding the health and safety of construction workers and future facility users.

The other options focus on different aspects of project management: schedules and timelines, delineation of responsibilities among contractors, and market considerations for the completed facility, which, while important, do not address the integral role of risk management in maintaining project integrity and safety.