During project execution, the cost management plan would be used to:

Ensuring fair resource compensation is typically an aspect of human resource management and procurement, not the primary use of the cost management plan during execution.

Scheduling resources for each phase of the project is a function of the project schedule management plan, not the cost management plan.

While new costs may emerge, the primary purpose of the cost management plan during execution is controlling identified costs, not specifically identifying previously unknown ones, which occurs during planning.

The cost management plan provides guidelines for controlling costs and is used during execution to determine if actual cost variances exceed a defined threshold, signaling a need for corrective action or further analysis to keep the project within budget.