The pace of the ITER project in St Paul-lez-Durance, France is accelerating rapidly into its peak construction phase. With the completion of the B2 slab in August 2014, which will support about 400 000 metric tons of the tokamak complex structures and components, the construction is advancing on a daily basis. Magnet, vacuum vessel, cryostat, thermal shield, first wall and divertor structures are under construction or in prototype phase in the ITER member states of China, Europe, India, Japan, Korea, Russia, and the United States. Each of these member states has its own domestic agency (DA) to manage their procurements of components for ITER. Plant systems engineering is being transformed to fully integrate the tokamak and its auxiliary systems in preparation for the assembly and operations phase. CODAC, diagnostics, and the three main heating and current drive systems are also progressing, including the construction of the neutral beam test facility building in Padua, Italy. The conceptual design of the Chinese test blanket module system for ITER has been completed and those of the EU are well under way. Significant progress has been made addressing several outstanding physics issues including disruption load characterization, prediction, avoidance, and mitigation, first wall and divertor shaping, edge pedestal and SOL plasma stability, fuelling and plasma behaviour during confinement transients and W impurity transport. Further development of the ITER Research Plan has included a definition of the required plant configuration for 1st plasma and subsequent phases of ITER operation as well as the major plasma commissioning activities and the needs of the accompanying R&D program to ITER construction by the ITER parties.