This paper analyses the applicability of well-known risk management methodologies in energy efficiency projects in the industry. The possibilities of application of the selected risk management methodology are demonstrated within the project of the plants for injecting pulverized coal into blast furnaces no. one and two, implemented by the company US Steel Serbia d.o.o. in Smederevo. The aim of the project was to increase energy efficiency through the reduction of the quantity of coke, whose

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... duction requires large amounts of energy, reduction of harmful exhaust emission, and increase productivity of blast furnaces through the reduction of production costs. The project was complex and had high costs, so that it was necessary to predict risk events and plan responses to identified risks at an early stage of implementation, in the course of the project design, in order to minimise losses and implement the project in accordance with the defined time and cost limitations.