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Business Risk and Project Management in Civil Construction Branch

Abstract Project management is general planning, coordination and inspection of the project, from the initial stage all the way to final phase, its purpose is an accomplishment of the accepted task and creation of the functional final effect, without exceeding established costs, time-frames and fulfillment of required standards of the quality. The present article was devoted to the issue of the project management in the construction sector in order to reduce the business risk. The study is based on literature examinations with an own methodological solution for project management in the construction industry. After introducing a set of definitions of the project and describing the concept of project management, a characterization of the project management in the construction industry and its effects in the economic space were described