Construction work on buildings covered by the revitalization program of historic urban development represents a special type of construction project in which, in the execution phase, difficult technical situations and other risk sources are being encountered. An important source of risk is the necessity to preserve a part of the historic substance, which results, among others, from the recommendations of the conservator, legal regulations or from the vision of the architect/investor. The risk is also associated with difficulties and complications in construction works resulting from the location of these objects in dense urban development. The aim of the article is to identify risk factors and reactions of contractors, i.e. applied risk management methods and techniques, based on the example of a complex of buildings constructed in the historic district of Krakow. The elimination of sources of risk, especially of a technical nature, requires the construction management to be highly skilled and experienced, to carefully prepare the construction work and to design additional solutions to ensure safety at work. The experience gained may serve as a basis for risk analysis and identification during the implementation of projects involving the use of an existing building and historic substance in areas subject to revitalization programs.