Characteristic project management model found in construction companies of Bosnia and Herzegovina
An estimated 20 % of the current Gross Domestic Product (GDP) in the world today appertains to the project management (PM). However, the legal norms in Bosnia and Herzegovina (BH) still do not acknowledge the project management sector. There is a heavy accent on this issue in the civil engineering sector, which is traditionally a project-oriented economy branch. The research results presented in this study disclose that the civil engineering sector in BH still does not recognize the project management area, and does not apply the PM in this sector's daily processes. Furthermore, the results indicate that solid understanding of the project phases and sub-phases is one of the key factors for the successful project completion and its efficient realization while utilizing all available resources to their full potential. The study also presents a distinctive phase model by which construction companies manage projects in BH, and points out a further need for establishment of a unified project management methodology, which would contribute in acceptance of the project management in BH.