The article combines the civil engineering industry and the management industry, which in practice are inseparably connected with each other. The Management by Objectives strategy has been analyzed. The railway industry has been selected as one of the most complex and the most dynamically developing branch of construction. The specifics and complexity of projects for the construction and modernization of railway lines and the problems of the investment management staff have been briefly presented. Next, the idea of Manage-ment by Objectives strategy has been described. The benefits and disadvantages of using this method in civil engineering have been detailed and justified. The article presents the approach, attitude and expectations to the construction process of both management and employees at various levels. Solutions have been proposed that, if properly implemented, can bring improvements in the quality and productivity of work in the construction industry, and also, after introducing necessary modifications, in other areas.