Entering the 21st century, the concept of project management has changed, therefore the project management and business processes within the company are important to create a flexible and innovative company, which in real time can respond to the needs of business. Concepts of change management, risk management, projects and business processes complement each other as complementary segments of the entire business. Each project is unique and like all organ systems, things or appearances the project as well has a life cycle and stages of development. The life cycle of the project helps to determine what work activities should be carried out at each stage of the project, who perform these activities according to the stage, and determines the end of the project. A key risk of each project is an estimate of efficiency of the project, it’s success or failure, which will determine will you or will you not achieve the set goal. Project management is necessary both in the private and public sectors. There are various methods and strategies and there are many factors that can be generators of success or failure, so the companies must recognize factors, respond to them and successfully achieve their goals.