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It relates to suppliers and services too. After a pre-qualification phase the whole process takes places via the internet and is a kind of reverse price auction and is called on-line bidding. The vendors have the opportunity to adjust their prices during a certain time. The procedures are very different and depending on the system used by the buyer. The vendor is getting a filtered information about the competition. So he is getting an insight into the market, more transparency, ease of participation and the opportunities to re-bid. Besides these advantages of market transparencies the buyer gets an efficient process and competitive price. The total tendering process is economically based on a careful and technically correct project calculation. 3.2 Risk Evaluation Already in the tendering phase the risk management is of importance. All possible risks have to be evaluated. And these are not only the technical risks which are common to every project. In international projects the economical success depends strongly on risk factors like local content conditions, taxation regulations, development of currency exchange rates, etc. If the decision is positively taken by the stakeholders to go on with the tendering process, the information out of the decision form is capitalized and results in add-ons to the calculated prices from the technical project design phase. But the information is also used for the negotiation of the general terms and conditions in the later contracting stage. The closer these risks are managed during the project execution the less has to be estimated their capitalization. 4. PROJECT REALIZATION Not only conglomerates but also small and medium enterprises can only manage their economic growth by the expansion to foreign markets. This so called globalization process can be seen nowadays in the global competition of goods and services, global financial markets, global acting enterprises (“global players”) and also in global employment markets by displacement of workplaces and production places. This acting in international markets has a high level of risks and many enterprises don’t have enough skilled personnel for the necessary project management. The demands on a project manager have also changed. Not the best expert is the best project manager, but the personality with best integrating skills. And project management is more and more also a risk management to avoid damages and to use new chances during the project phases. A detailed description about this topic can be found at CRONENBROECK (2004). 4.1 Project Management After the project is given and contracted the project processing phase will start. Some single persons but also several thousand persons can deal with the project realization. For international engineering projects we are expecting a minimum of 100 persons involved. Quite often only for the project objectives new enterprises are founded with their own organizational structure. In the beginning the project management has to define which methods are applicable for the project to avoid over-administration and excess of the budget. So from the very beginning of a project the project management is involved which leads to the following very general definition of the term project management by the American Project Management Institute (PMI): Project Management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. For a successful project realization the project manager needs knowledge in • Project management theory • General management know-how • Knowledge specific to the product or services • Social and communicative skills. But also personal attitudes like • frankness and open mindedness for unknown and new things • sensibility in the intercultural field • great personal flexibility • readiness for unconventional conflict resolutions are of great importance. The project manager has to fulfill the expectations of the stakeholders at the project, so he is part of the organization of his enterprise too. Therefore the project management has to be clearly defined in the organizational structure of an enterprise. Integrated and powerful project management systems have to be established which include regulations, standards, provisions and tools in the following areas: