The Republic of Belarus has defined requirements for project management, which are recommended for all participants involved in project activities, and provide for the organization of a systematic approach to the development and implementation of projects involving architectural and construction activities for the construction, reconstruction and restoration of buildings and structures. Comprehensive pre-investment study of the project reduces the risk of starting an inefficient project, because in the process of developing the investment justification: the costs associated with construction and installation work are defined more accurately; engineering-geological and geodetic surveys of the territory under construction and technical conclusions based on the results of the survey of the technical condition of buildings, internal and external engineering systems of buildings are taken into account; all principal decisions are made on the supply of engineering and transport infrastructure; the project’s impact on the environment is assessed, and public discussions are held on the environmental impact assessment report with the state environmental expertise; determine the possibility and options for adjusting the parameters of the investment project, the adopted technology and architectural and planning solutions in order to improve the effectiveness of the project, if the data obtained indicate insufficient profitability of the project.This article describes the main provisions on the implementation of the pre-investment stage (development of pre-project documentation, business plan) of an investment project implemented in the metallurgical industry.