This chapter offered a case study of the Human Resource Management (HRM) system in the context of a company that progressed itself towards a project-oriented organization. The case study company investigated is part of the wire line telecommunication industry and is situated in Austria. The chapter presents the Working model: HRM system in the context of a project-oriented organization to analyse the HRM system in the specific context of a company that developed itself from a former state-owned hierarchical bureaucracy towards a project-oriented company. It contributes descriptions of the elements of the model in the context of different phases of project-orientation of a company. In this early phase of developing towards a project-oriented organization, HRM was an administrative function. Project management training was paid for individuals who requested it. HRM was a reactive administration carried out by the HR department function to support the bureaucracy of the former public sector organization.