The press and articles on economics over past two years have been determined by one pivotal topic: the effects and impacts of the global financial crisis on banks, corporations and the global economy. A survey of July 2009 by Roland Berger reflects the impact of the global financial crisis on corporations and entrepreneurs, emphasizing that over 80% of the interviewed companies are expecting obstacles in raising new capital, and more stringent conditions and covenants concerning both the origin as well as the extension of credit. Financial crisis also arrived at the project finance market, at the end of 2008. The effect of increased costs of funding and the reluctance of investors and project originators, led to a decrease of the realized volume. On the one hand there are still numerous articles on restricted loan granting by banks and on the increasing credit crunch. On the other hand press is currently reporting an easing of PF market from the credit crunch from the depths of January/February 2009. Considering these circumstances, the key question of this book can be derived: What role does risk management of a project finance play with regard to the impact of the credit crunch?