Aim. The presented study aims to develop a methodology for implementing CRM management in an engineering company to optimize relationships with counterparties (suppliers and subcontractors).

Tasks. Within the framework of the study, the authors 1) develop a general scheme for implementing CRM management in an engineering company to optimize relationships with counterparties and 2) test the methodology for implementing CRM management on a Russian engineering company.

Methods. This study is based on risk management theory and uses general scientific methods, such as the systems and integrated approach and economic analysis, to substantiate theoretical assumptions and rationalize the conclusions.

Results. A methodology for implementing CRM management in an engineering company to optimize relationships with counterparties (suppliers and subcontractors) is proposed.

Conclusions. The study provides recommendations for engineering companies on how to select counterparties in the form of a list of reliable suppliers and contractors recommended by the company’s board and top managers.