Product Update

Construction Contract Review Checklist and Industry Overview Updated in Construction Risk Management

Release 4–2020 of Construction Risk Management includes an updated construction contract review checklist and a current overview of the construction industry.

Checklists are helpful in ensuring that all relevant risk allocations are reviewed and appropriate modifications made to construction contracts. However, checklists must be reviewed regularly to ensure they address current conditions and developments. The Construction Contract Review Checklist is freshly updated to assist with this endeavor.

The construction industry is one of the largest industries in the United States, with over 700,000 individual proprietorships, partnerships, and corporations generating more than $1.9 trillion in annual construction revenues. In addition, in 2017, the industry employed more than 6,500,000 people generating more than $399 billion in payrolls. Those new to the industry will find the Overview of the Construction Industry helpful for understanding the size and scope of the industry as well as basic contracting, job acquisition, and funding mechanisms utilized on construction projects.