What encompasses the activities that are part of the construction phase?

The physical implementation of the project’s design is a crucial component of the construction phase, as it involves the actual building and execution of the project as planned. This phase translates the designs and blueprints into tangible structures or installations. It encompasses activities such as site preparation, construction, installation of systems, and ensuring that the project adheres to the established specifications, timelines, and budgets. This implementation is vital for moving a project from conceptual and design stages into reality, making it an integral part of the construction process.

Participating in regulatory reviews before construction, while important, occurs prior to the construction phase and focuses on obtaining necessary approvals and permits. The financial management of the project is an ongoing activity that takes place throughout the project's lifecycle but does not specifically pertain to the physical construction activities. Reviewing and submitting all bids from contractors also takes place prior to construction, as this involves selecting the right contractor and finalizing agreements before any physical work begins. Therefore, none of these activities encapsulate the essence of what the construction phase primarily entails, making the correct answer the physical implementation of the project’s design.