Acta Scientiarum Polonorum

The railway procedure in Poland has a long investment cycle, very complex implementation stages and significant
risk factors. It is therefore necessary to improve the level of risk management on planned railway
investments. In order to a wider recognition of risk factors, the author of the article presents the method of
analysis of stakeholders and the identification of risks associated with them. The risk identification was developed
on the basis of the method proposed by the author. The article also presents the strength of the impact of
individual stakeholder groups on the subject, including the baseline work schedule. The stakeholder analysis
presented in the article points to their significant impact on railway investment and points to the need to take
account of their expectations when planning new ventures.