During project initiation, a lessons-learned session with another project's team identified low construction productivity as a potential delay to completion. What should the project manager do next?

The project manager has identified a potential risk (low construction productivity) during project initiation, informed by lessons learned from a previous project. The next logical step is to formally document this risk in the risk register, which is a key output of the Plan Risk Management process. Concurrently, developing a mitigation plan for site execution addresses how to reduce the probability or impact of this risk, aligning with the Plan Risk Responses process. Talking to the sponsor for additional funding is premature; the risk needs to be formally analyzed and planned for before requesting resources. Prequalifying contractors is a valid risk response but should follow the formal risk identification and planning process, not precede it. Engaging a consultant is also a potential risk response, but the immediate action after identifying a risk is to record it and plan a response, not jump directly to a specific solution without formal analysis.