The context u provided doesn't refere to unfinished work as it reads "provide one punch list to the client of all interior finished items"(its a punch list for the finished items)(c the first link) so I think its better be translated as
"A list of discrepancies that need to be corrected by the contractor.
Punch out- To inspect and make a discrepancy list."
قائمة الاختلافات/قائمة المتناقضات

Otherwise Punch list is translated
Punch list is generally a list of tasks or "to-do" items. In U.S. construction industry, a "punchlist" is the name of a contract document used in the architecture and building trades in the United States to organize the completion of a construction project

قائمة باعمال واجبة التنفیذ
قائمة العناصر الناقصة
قائمة المهام الناقصة
In your context I think it is the first definition (translation)