Abstract:  
           
          The paper analyses the relationship between forecasted and 
          achieved categories of excavation of certain tunnels in Croatia. A relationship 
          is given in the natural and financial sense. Based on the analyzed 
          relationship of forecasted and achieved categories of excavated 
          tunnel, various approaches to this categorization are analyzed from 
          the point of view of the designer, investor and contractor, depending 
          on their approach to the goals of the construction as an investment 
          project. Based on previous analyses, risk in categorization of tunnel 
          excavations is explained as a key technological and key design risk in 
          construction, especially for long tunnels in karst. At the end, a model 
          for managing risk in categorization of tunnel excavations between investor 
          and contractor is given. 
          Keywords: 
             
            long tunnel, tunnel 
            excavation in karst, risk of 
            categorization of tunnel 
            excavation 
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