Today's business has become unimaginable without applying management, from the smallest companies to the world's largest corporations. Any business venture has become unthinkable without fundamental research and planning. Project management has become an necessary part of every, even the smallest, project. The market changes faster and faster, especially the tourist market, wich requires careful planning and strict implementation of the plan. Project management has become the main tool to bring business ideas into realization or goal. An excellent example of project management application is the business approach and adaptation of the Aurora Family Hotel on the island of Krk. And with the most timely planning, project decay may occur, but with proper use of all available research, planning and implementation tools, the risk of decay can be reduced to a minimum. To design a project like Aurora mentioned above, all factors that may have a direct or indirect impact on the project must be taken into account. Of course, it is impossible to predict the future correctly, but the potential for avoidance should be reduced to the minimum and exclude all risks that can be excluded.