Griffiths said he was pleased that someone of Latham's expertise and experience was leading the review.
He said: "The government's commitment to identify what improvements can be made to the Construction Act is good news for the industry and its clients."
Griffiths said the decision to launch the review underlined the seriousness of the government's pledge to address the problems of disputed, late and non-payment. It would ensure that the legislation was working as effectively as possible.
Griffiths said: "Sir Michael played a vital role in the development of the Construction Act and has long been a leading advocate of the construction industry agenda."
Griffiths added that the Construction Act provided the basis for a fairer payment culture and more effective project delivery.
Latham said that he had invited all the leading representative organisations to nominate members of a review group.
He said that he had asked them to write to the DTI outlining their concerns and offering possible solutions.