The paper looks at the systematic approach to management throughout the entire project life cycle. Some significant activities within particular phases of the overall process have been described in order to point out the fundamentals for a successful project. Planning assumptions, predicted risks and resources are always the basic parameters necessary for the optimal establishment of projec objectives. Further stages of projects need to be driven through those objectives while all contemporary constraints in the execution of the project have to be overcome by project team. The monitoring of progress and costs will always be critical for each contractor, however it becomes a real challenge when project requires the demanding quality and safety arrangements, as is the case when constructing nuclear power plants. The highest standards and procedures recommended for project management have been established in the UK and the USA. The main conclusions concerning the most important stages of project have been supported by examples of construction processes experienced by author in those countries.