PROJ6000 - Principles of Project Management: Maxima LT Project Report

This report examines Maxima LT, a major retail operator in the Baltic States, and analyzes three potential projects: implementing business intelligence, enhancing customer service, and establishing a research and development unit. The report discusses the importance of information for business performance, the role of customer service in retail success, and the value of research and development in marketing and product development. It then explores various project selection methods, including cost-benefit analysis, to determine the most suitable project for Maxima LT. The report further details the application of the PMBOK framework, covering project initiation, planning, execution, monitoring and controlling, and closing phases. The initiation phase involves establishing project authority, while planning includes creating a project management plan. The execution phase focuses on project work and deliverables, and monitoring ensures timely, budget-compliant, and high-quality outputs. The closing phase, often overlooked, is crucial for project success. The report concludes by emphasizing the strategic importance of these projects for Maxima LT's continued growth and competitive advantage in the retail market.

Running head: PROJ6000 PRINCIPLES OF PROJECT MANAGEMENT
PROJ6000 PRINCIPLES OF PROJECT MANAGEMENT
Name of the Student
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Author Note:

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Introduction
The essay deals with Maxima LT, which stands out to be the biggest retail operator of
trade in Baltic States. In the year 2006, the firm has seen a revenue of 1.85 billion dollars.
Maxima has shown a growth of 21 percent in the previous year 2005, and the upcoming years it
has forecast a growth of 20%. At present, the organization operates around 370 retail in different
regions like Bulgaria, Latvia (Brioso, 2015). In whole Baltics, maxima stands out to be largest
employer. It strength is completely based on employees whose focus on professionalism, spirit,
loyalty. The employees have merely played a key role in building a position for being the largest
retailer in Baltic countries (Varajão, Colomo-Palacios & Silva, 2017). MAXIMA has come up
with strategic objective for different aspect like a recruit, training and keeping the best one so
that they can earn loyalty.
The essay highlights three new projects like implementation of business Intelligence,
improving customer service and Implementing research and development Unit in Maxima.
Discussion
Three Projects for this organization
There are three projects which can be implement in MAXIMA LT so that it can improve
the operation of organization.
Implementation of Business Intelligence: Information is an important parameter for
MAXIMA LT that focus on enhancing the business performance. Good Business intelligence
helps in having much better results (Chaves et al., 2016). MAXIMA LT can find this business
intelligence software very much helpful in enhancing business operation and processes. Business

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Intelligence software helps in keeping track of changes and trends which affect performance of
organization. The software provides the manager and related decision-makers with required
information needed for taking any action. The software highlights the importance of data which
provides the manager in decision making. It will merely highlight the vital data which is needed
by manager so that they can understand what is going well and what needed changes (Jamali &
Oveisi, 2016). Manager can make use of this as it can enhance their business performance.
Business Intelligence software is one of the best operation improvement plan. Based on the goals
of organization, there is need for proper business management software.
Enhancing Customer Service: Customer will be always considered as the kings of this
retail business. There is need for assurance that customer receive the best service.
Communication gap in between employee and customer can result in conflict and complains that
can affect the brand image (Gonçalves et al., 2017). This particular step will help in profit of
MAXIMA LT in the long run. For tackling this particular issues, CRM tools are being used for
proper management of certain issue and concern. Employees of MAXIMA LT needs to have
proper training so that they can build a proactive approach for their customer.
Implementing a research and development unit: Research and development is very
much important for MAXIMA LT. R&D plays a key role in marketing, management of cost and
different aspect of business strategy. This particular unit will help in attracting new customer and
win their interest. Research and development focus on providing the customer with list of things
they have not seen earlier (Huda, 2018). R&D focus on product offering, where the main focus is
participation in market and sales. This unit will help MAXIMA LT to create the best marketing
campaign and strategy. This particular firm can make use of research and development so that
they can make the best product from the natural ingredients (Larson & Chang, 2016). This

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particular step will ultimately help in the release of eco-friendly part of product that will
ultimately increase overall sales.
Application of different selection methods for selection one project
For Maxima LT, one of the best decision which should be undertaken is all about
deciding the project that they should undertake. After the receiving of proposal, there are variety
of factors which should be undertaken for decision making. Choice making of a particular
project out of three is considered to be important one for this organization (Fan, Lau & Zhao,
2015). This merely defines the way in which the project will be carried out. There are list of
project selection method which is used by present organization. It comes up with a variety of
features and characteristic. There are large number of concepts and principles which are being
used by this organization for selecting the right one.
MAXIMA LT can make use of cost-benefit analysis for assisting them with them in
making the right choice. Taking into account the positive aspect of this project, both the benefits
and negative aspect of the project can be considered (Trieu, 2017). The ultimate goal of the
organization is profit optimization that will help in highlighting the difference in profit and next
best option.
The method discussed above needs to be done by making use of different combination.
The most suitable aspect is all about analyzing different methods which will help in decision
making for MAXIMA LT (Yeoh & Popovič, 2016). There are wide range of factors which
should be taken into account instead of focusing on a just single one. There is need for careful
consideration which should be given for each of the project.
Initiated Project Using PMBOK

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PMBOK is divided into five stages that are initiation, planning, execution, monitoring
and lastly closing.
Project Initiation Stage: This particular stage merely includes the beginning work which
is needed for creating proper authority for this research and development project (Richards et al.,
2019). In this stage, the project is being authorized, funded and completely defined. It is
completely seen on the organizational level, which is above the project.
PMBOK merely comprises of two processes that are
 Developing a Project Charter
 Identification of key Stakeholders
Project Charter aims in incorporating both project and authority of project manager. This
is merely developed by developing the firm. It is merely delegated by the project manager
(Moro, Cortez & Rita, 2015). This merely comprises of some important information which
comprises of the scope statement, important stakeholders and budget allocation of project.
Project Planning: This stage is underestimated on a frequent basis. PMBOK comprises
of some 10 important areas of knowledge management. The success of the project is completely
related to its planning stage. Project Management Plan is created in this particular stage that
contains certain factors like scope statement of project, schedule, cost, human resource plan and
risk management plan (Jamali & Oveisi, 2016). This particular project plan of implementing
business intelligence software which is approved at sponsor end. Project Management Plan
require to be completely approved by project sponsor end for becoming official and after that
changes are required to be re-approved.

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Project Execution: In this stage, project work comes into picture. Project manager aims
in directing and managing the given project work (Gonçalves et al., 2017). Project deliverable is
seen and given to the project sponsor. There are mainly two documents that are used in this stage
that are
Updating the project status: Project Manager aims in producing some regular status
update as per the need of project management plan (Trieu, 2017). The updates are merely
inclusive of cost and schedule for the upcoming project.
Stakeholder Communication: Each of the stakeholder requires to communicate with
terms for their provide information (Fan, Lau & Zhao, 2015). Project execution is done in the
outline with the project management plan.
Monitoring and Controlling: This stage run in concurrent and parallel way with the
project execution stage. PM needs to carry out sufficient monitoring and control which ensures
that output are given on required time, budget and quality. Project manager time is spend in the
stage of project monitoring that will be spend on a single process known as Earned Value
Analysis (Huda, 2018). In this particular aspect, project manager focus on calculating project
status from the perspective of two-point that is schedule and cost. This can be at any given
instance which will provide advance warning for project.
Project Closing: Project closing is the only stage which is ignored the most by most of
the project managers. It is due to the fact that the budget of the project has gone too much.
Project closing stage is generally visible by most of the corporate executives (Larson & Chang,
2016). It can have major impact on the career of the project manager.
Conclusion

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From the above, it can be concluded that this essay is all about MAXIMA LT, which is
known as biggest one in Baltic States. MAXIMA does not have a proper research and
development department. Organizational development are mainly assigned to most of manager at
organization state. The most vital aspect of convenience to shopping are customer that has
suitable shopping aspect and service that are available to them. In addition, to the normal retail
services, there are large number of service that are being offered to mobile communication
services. MAXIMA has come up with air ticket voucher with the airline partner. MAXIMA is
also focusing on testing new services for customer that will help in paying the communication
bills at the time of check-out. The firm has come up with a loyalty program which provides its
members with privileged access in terms of service. MAXIMA has also come up with the plan of
adding new services to the present portfolio. Considering the service efficiency, MAXIMA
emphasizes on analysis of self-service for customers. The firm is heavily based on improvements
in the domain of supply chain.

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References
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