IntroductionProject management is a

Introduction
Project management is an essential skill-set for many careers and in many contexts in our lives.In this assignment, I’ll summarize the main characteristics of project management, point out the difference between of project versus progress. Additionally, these basic forms of organizational structures relating to the field of project management will also be described in this section. I would also explain why project management also serves as an excellent training ground for future senior executives. And finally,I’ll describe the term “escalation of commitment” in the perspective of project management.
The different between Project and Process
First of all, we'll need to define what project is. One of the best well-known definition come from the book PMBoK Guide (2008) of Project Management Institute (PMI) has defined project is a temporary endeavor undertaken to create a unique product, service or result.For the definition of process, Robert D. Gilbreath (1988) stated that process refers to ongoing, day to-day activities in which an organization engages while producing goods or services. Processes use existing systems, properties, and capabilities in a continuous, fairly repetitive manner.From these above definitions of project and process, we can figure out that a project is temporary in that it has a defined beginning and end in time. On the other hand, the process does not have a specific time period but continuously to occur in the daily operations of each organization.A “project” has an objective or outcome to be accomplished and the project ends when that objective is accomplished. That objective might be broadly-defined and might change or be further elaborated as the project is in progress. Meanwhile, a “process” has an objective that is typically defined around the ongoing operation of the process.The sequence of tasks in a project is not normally repetitive and may not be known at the outset of the project but the tasksin a process is a repetitive sequence of tasks and the tasks are known at the outset since it is repetitive. A project consists of a group of people trying to do something new or different. Oppositely, a process consists of a group of people repeating a set of actions to generate a prescribed output. Projects create new things while processes create variations of existing things.
Forms of Organizational Structures and Project Management
As stated by Pinto (2013), we’ve got three basic forms of organizational structures as they related to project management, including: functional, project-based and matrix structures.
Functional Organizational Structure
The most common organizational structure applied in reality business nowadays is the functional structure (Pinto, 2013). For this organizational model, once a new project established, the project team will be selected from different departments within the company. The department which is the most related to the project will be able to have a manager play the roles of project manager. This model doesn’t require the disruption or change to the firm’s design but it also make difficult to achieve cross-functional cooperation. Sometimes, it’s difficult to convey details of the project objectives to the different manager within the company because each department often has different concerns and they often give priority to those.
Project-based Organizational Structure
For this organizational model, project members do full time and completely under the control of project manager. This model offers a lot of advantages for project management. First, project managers have full control and solely authority therefore him/her can use resources most optimally. Second, because all project members share the common goal of the project so that the coordination between members will be accelerated and more effective. Third, organization can easily adapt to the changing of business environments, each new demand arising from the market can be met quickly through the new project. Nevertheless, this model also has a number of shortcomings that need to be addressed. Because the project members are working full time so the firm needs to hire more people lead to higher costs. The inefficient use of some personnel also leads to unnecessary waste. The staff loyalty is low because they always rotated from project to project and sometimes will not have suitable projects in order for them to do.
Matrix Organizational Structure
To balance the advantages and disadvantages of the two models mentioned above, a third model is often used is matrix organization structure. Accordingly, once a new project is set up, the project manager will negotiate with other departmentmanagers to get the personals who will bejoined full time or part time in project. This model has the advantage that using resources flexibly and optimally. After project closure, the project members can return to work in their department without waiting to arrange participation in new projects. However, members of the project are still under the influence of both the project management and their manager led to the stressful and sometimes negative affect to the efficiency and project progress.
Training Project Management for Future Senior Executives
Project management not only helps the company implement projects successfully but also is a very good method to train future senior executives. In order to implement a successful project, the project manager must have both a deep technical background and excellentbehavior skills (Pinto, 2013). Technical knowledge helps him/herdeeply understands the project requirements, fulfill customers demand within allowable time and cost. Behavior skills help him/her resolve conflicts effectively arising in the projects. The good project manager will become excellent senior managers in the future.
Escalation of Commitment in Project Management
Kelly & Milkman (2013) explain “Escalation of commitment” in project management refers to the risk in the situation that although the project manager hasalready figured out the project is going to fail but he/she still invests all resources in order to continue deploying with the hope to gain a positive result but then he has got a failure project in the end. There are many factors leading to the escalation of commitment and the corporate culture is also one of them. In an organization where the management and supervision are not tight will create favorable conditions for one or some people might be able to make their own decisions instead of having approval from many othermanagers. Naturally, people always look forward to fix his mistakes but to be able to come up with investment decisions to the project or not, it depend on risk tolerance policy of each firms. For organizations that have high risk tolerance, peopleare encouragedto take higher risk.
Conclusion
In conclusion, both of project and process are important for each organization. The project will bring the new product or service for the firm meanwhile the process will help the firmoperate them effectively. In three basic forms of organization structure, matrix model becoming more and more popular due to balancing the pros and cons of the functional and the project-based structure.Nowadays, project managers play important role in every organization, training project management skills for them not only help implement projects successfully but also create the sources of future senior executives for the firm. Escalation of commitment is one of the big issues that each organization, each project manager must pay special attention to avoid serious mistakes.

Kết quả (Việt) 1:

Giới thiệuQuản lý dự án là một điều cần thiết kỹ năng thiết lập cho nhiều sự nghiệp, và trong nhiều bối cảnh trong cuộc sống của chúng tôi. Trong nhiệm vụ này, tôi sẽ tóm tắt đặc điểm chính của quản lý dự án, chỉ ra sự khác biệt giữa các dự án so với sự tiến bộ. Ngoài ra, các hình thức cơ bản của cấu trúc tổ chức liên quan đến lĩnh vực quản lý dự án cũng sẽ được mô tả trong phần này. Tôi cũng sẽ giải thích tại sao quản lý dự án cũng phục vụ như là một mặt đất đào tạo tuyệt vời cho điều hành cấp cao trong tương lai. Và cuối cùng, tôi sẽ mô tả thuật ngữ "leo thang của cam kết" trong quan điểm của quản lý dự án.Khác nhau giữa dự án và quá trìnhFirst of all, we'll need to define what project is. One of the best well-known definition come from the book PMBoK Guide (2008) of Project Management Institute (PMI) has defined project is a temporary endeavor undertaken to create a unique product, service or result.For the definition of process, Robert D. Gilbreath (1988) stated that process refers to ongoing, day to-day activities in which an organization engages while producing goods or services. Processes use existing systems, properties, and capabilities in a continuous, fairly repetitive manner.From these above definitions of project and process, we can figure out that a project is temporary in that it has a defined beginning and end in time. On the other hand, the process does not have a specific time period but continuously to occur in the daily operations of each organization.A “project” has an objective or outcome to be accomplished and the project ends when that objective is accomplished. That objective might be broadly-defined and might change or be further elaborated as the project is in progress. Meanwhile, a “process” has an objective that is typically defined around the ongoing operation of the process.The sequence of tasks in a project is not normally repetitive and may not be known at the outset of the project but the tasksin a process is a repetitive sequence of tasks and the tasks are known at the outset since it is repetitive. A project consists of a group of people trying to do something new or different. Oppositely, a process consists of a group of people repeating a set of actions to generate a prescribed output. Projects create new things while processes create variations of existing things.Forms of Organizational Structures and Project ManagementAs stated by Pinto (2013), we’ve got three basic forms of organizational structures as they related to project management, including: functional, project-based and matrix structures.Functional Organizational StructureThe most common organizational structure applied in reality business nowadays is the functional structure (Pinto, 2013). For this organizational model, once a new project established, the project team will be selected from different departments within the company. The department which is the most related to the project will be able to have a manager play the roles of project manager. This model doesn’t require the disruption or change to the firm’s design but it also make difficult to achieve cross-functional cooperation. Sometimes, it’s difficult to convey details of the project objectives to the different manager within the company because each department often has different concerns and they often give priority to those.Project-based Organizational StructureFor this organizational model, project members do full time and completely under the control of project manager. This model offers a lot of advantages for project management. First, project managers have full control and solely authority therefore him/her can use resources most optimally. Second, because all project members share the common goal of the project so that the coordination between members will be accelerated and more effective. Third, organization can easily adapt to the changing of business environments, each new demand arising from the market can be met quickly through the new project. Nevertheless, this model also has a number of shortcomings that need to be addressed. Because the project members are working full time so the firm needs to hire more people lead to higher costs. The inefficient use of some personnel also leads to unnecessary waste. The staff loyalty is low because they always rotated from project to project and sometimes will not have suitable projects in order for them to do.Matrix Organizational Structure
To balance the advantages and disadvantages of the two models mentioned above, a third model is often used is matrix organization structure. Accordingly, once a new project is set up, the project manager will negotiate with other departmentmanagers to get the personals who will bejoined full time or part time in project. This model has the advantage that using resources flexibly and optimally. After project closure, the project members can return to work in their department without waiting to arrange participation in new projects. However, members of the project are still under the influence of both the project management and their manager led to the stressful and sometimes negative affect to the efficiency and project progress.
Training Project Management for Future Senior Executives
Project management not only helps the company implement projects successfully but also is a very good method to train future senior executives. In order to implement a successful project, the project manager must have both a deep technical background and excellentbehavior skills (Pinto, 2013). Technical knowledge helps him/herdeeply understands the project requirements, fulfill customers demand within allowable time and cost. Behavior skills help him/her resolve conflicts effectively arising in the projects. The good project manager will become excellent senior managers in the future.
Escalation of Commitment in Project Management
Kelly & Milkman (2013) explain “Escalation of commitment” in project management refers to the risk in the situation that although the project manager hasalready figured out the project is going to fail but he/she still invests all resources in order to continue deploying with the hope to gain a positive result but then he has got a failure project in the end. There are many factors leading to the escalation of commitment and the corporate culture is also one of them. In an organization where the management and supervision are not tight will create favorable conditions for one or some people might be able to make their own decisions instead of having approval from many othermanagers. Naturally, people always look forward to fix his mistakes but to be able to come up with investment decisions to the project or not, it depend on risk tolerance policy of each firms. For organizations that have high risk tolerance, peopleare encouragedto take higher risk.
Conclusion
In conclusion, both of project and process are important for each organization. The project will bring the new product or service for the firm meanwhile the process will help the firmoperate them effectively. In three basic forms of organization structure, matrix model becoming more and more popular due to balancing the pros and cons of the functional and the project-based structure.Nowadays, project managers play important role in every organization, training project management skills for them not only help implement projects successfully but also create the sources of future senior executives for the firm. Escalation of commitment is one of the big issues that each organization, each project manager must pay special attention to avoid serious mistakes.