Risk and uncertainty are inherent aspects of each project. Effective project planning should include unforeseen circumstances, problems and changes. The risk in the project arises mainly from the inability to eliminate the uncertainty associated with future events at each stage of the project. Primary sources of risk include: dynamics of communication between project participants, variable performance of project teams, faulty planning and external environmental factors. The risk is also an important factor in decision-making to execute the project. It means that when making a plan of a project one should take into account any events that may disrupt the project, then analyze the likelihood of their occurrence and predict the impact and define appropriate responses. Project Risk Management requires to determine risk mitigation methods when executing a project. An effective method risk management could be to run the risk register and usage of provisions protecting threats, which are included in the register.