Abstract
Rail transport generates lower external costs related to environmental pollution in comparison to other means of transport. Sustainable development and environmentally friendly attitudes are increasingly used in present construction projects. Railway investments usually involve large projects in the field of transport infrastructure (megaprojects in transport infrastructure). Construction and modernization encompasses railway lines and overhead lines, engineering structures, buildings and railway traffic control devices. In the case of railway projects, numerous different risk factors that are not reflected in other construction projects may exist. Such investments typically generate high costs and require appropriate methods to manage risk factors. Effective project management relies primarily on the precise recognition of its characteristics, existing conditions as well as political and economic situation in its environment. The paper describes mechanisms related to implementation of railway construction investments in Poland in the context of the financial perspective planned for 2014 - 2020 period. In addition, formal and legal environment existing on the railway market has been analysed.
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