The concept of crisis is rather complex and many-sided, that is why it cannot be described by just two or three words, or even definitions. Therefore, it is possible to state that crisis management is also rather complex phenomenon. One of the basic problems of crisis management is time, or more precisely, a point that defines the moment of introduction of crisis management in a company. Thus, the task of this research is to find the correlation between, or more exactly the interinfluence of, such notions as “crisis” and “time”, because time can be considered as one of the basic aspects, which are necessary to show the essence of crisis management. In order to achieve this goal, time is characterized from the viewpoints of both costs spent on the introduction of the system of crisis management and the efficiency of the decisions taken to overcome the crisis situation. The research allowed to evaluate advantages, as well as disadvantages of the model, which is accepted by the authors