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.