
The ISPA programme and Cohesion fund Project Management Cycle is analysed in the article. Herein the sixof the ISPA programme and Cohesion Fund Projects Cycle Phases are outlined. The changes in Project managementCycle, law and management system which will occur as outcome because of ISPA programme will transforminto Cohesion fund after Lithuania will become one of the European Union member state are highlighted. Themajor problems which arising during European Union funds implementation in candidate countries and memberstates are segregated. In order to assure that ISPA programme and prospective Cohesion fund would be implementedproperly the solutions were found and made recomendations for resolving with management and lawrelated problems.
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