Project Management Principles and Maxima LT Case Study Reflection

This report reflects on the principles of project management, drawing upon the Maxima LT case study to illustrate the impact of various practices and team competencies on project success and failure. The analysis covers project management methodologies, tools, and techniques, including PMBOK and PRINCE2, and their application within the context of Maxima LT's operations. The report examines the influence of process groups (initiation, execution, planning, monitoring and control, and closure) on project outcomes, highlighting how effective leadership, communication, and ethical considerations contribute to achieving organizational goals. Additionally, the report discusses the significance of project team competencies such as leadership, communication, risk management, and planning. The author reflects on ethical implications and recommends improvements for Maxima LT, such as enhancing its research and development capabilities and setting ethical standards to improve employee loyalty. The report concludes that the success of project management is based on the five key process groups advanced by PMBOK and PRINCE2 theories.

Running head: PROJECT MANAGEMENT 1
Project Management
Student’s Name
Institutional Affiliation

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Table of Contents
Introduction...........................................................................................................................................2
Project Management Tools and Techniques..........................................................................................2
The Impact of Process Groups on Maxima LT Success.........................................................................3
Competencies of Project Team That Impact..........................................................................................5
Impact of competencies of project team on the success/failure of Maxima LT.....................................5
Reflection and Recommendation...........................................................................................................6
Conclusion.............................................................................................................................................7
References.............................................................................................................................................8

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Introduction
In order to attain the objective and goals of any project management is a key element.
In regard to this sense, project management is defined as a practise that entails various
methodologies undertaken within a specified timeframe. Therefore, project management as a
process involved five primary stages that is initiation phase, execution phase, planning stage,
control as well as monitoring phase and closure stage (Ding, 2016). According to Project
Management Body of Knowledge it defines project management as a practise performed over
a given period with the target of advancing an exceptional service or product that should be
able to satiate the wants of a its customers (Farkas, 2018). The essence of this paper is to give
a reflection regarding to the manner in which I understood the course Principles of Project
Management by providing an analysis of the success aspects associated with project
management and connecting this factors to Maxima LT case study. Maxima LT is used to
illustrate how its operations have successfully or failed to utilised project management
principles.
Project Management Tools and Techniques
Project management tools and techniques on their own cannot be successful, hence
PMBOK was established to unite and standardise different parts of project management. In
this regard, project management knowledge areas coincide with process groups which include
project planning, initiation, project execution, control and monitoring and project closing.
Project knowledge areas happen at each process groups. PMBOK offers appropriate practices
to handle challenges related to project management across all professional levels. The
execution of projects in a big company calls for various considerations like differentiation of
the project activities such as project integration management, project scope management,
project cost management, project quality management, project resource management, project

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risk management and many other considerations. These considerations helps in maintaining
the result of the project and thus channelize the path towards the organisational goal. The
integration of process groups is significant because it leads to positive outcome to project
leaders that take time to understand how the five process groups interact and support success
through all project phases. The project selection approach used by Maxima LT is benefit
measurement. This method analyses different projects according to their benefits, revenues
and profits. This is evident through Maxima comparison between the turnover for the year
2006 and 2005, which shows an increase in the turnover rate by approximately 21%. (the
tools and techniques and how they relate to Maxima)
The methodology that has been applied by Maxima LT is Agile. Agile is an iterative
method which uses various incremental steps to complete a project. This is evident in
Maxima where it has been using different research teams to make suggestions for
improvement projects. (agile is the methodology and how it relates to Maxima)
The Impact of Process Groups on Maxima LT Success
With regard to the understanding that I gained while learning PMKOB and PRINCE2
concepts in relation to project management, I have come to understand that they are diverse
knowledge areas of project management. I have realized that process groups are project
management structures that are used to shape a project during project development. In this
light, process groups consist of five phases execution phase, planning stage, control and
monitoring stage, initiation phase as well as closure phase. While learning through the course
I learned that process groups form the base of project management hence Mamima LT being
an organisation it is supposed to use process groups in its various projects such as research
and design. The teaching that I gained through PRINCE and PMBOK methods it allowed me
the opportunity to identify the importance of process groups at each stage of project
management as discussed in the following part.

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Initiation phase: This course allowed me the opportunity to understand that initiation phase is
a critical stage for any given project since it prompts all other project practices. I learned that
initiation phase plays a key role by making sure that before a project commence it has
addressed all necessary requirements and documents connected to the project. In regard to
Maxima LT, it has successfully planned in terms employee organisations. For instance, the
success of Maxima is found it its workforce whereby it professionally, recruit and train
employees to earn their loyalty.
Execution phase: With regard to the way I have understood this project management stage, it
is during this stage where all activities that were planned are put into action. According to the
knowledge attained through PRINCE2 and PMBOK methodologies I have realised that all
activities scheduled and planned in the earlier stage are implemented to turn the plans into
reality. Therefore, this stage of project management converts project ideas into tangible
products.
Planning stage: According to the way I understood planning phase it is a stage where all plans
for the project are fashioned in preparation to being executed in the next stage. As a result,
planning is a critical phase of project management as it enables project managers,
stakeholders and project teams to understand the way through which the entire project should
be established.
Control and monitoring stage: The control and monitoring stage is a project management
process that comprises activities such as observing how the project is implemented,
deploying mitigation strategies to control new process, and identifying risks and uncertainties
related to the project (Qazi, Quigley, Dickson, & Kirytopoulos, 2016). I learned that it is
during this stage of project management where all activities and analysed to ensure that they

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are in line with the planned project activities. Therefore, project managers should monitor the
project to make sure that the project runs according to the schedule, and budget.
Closure stage: Closure stage comes in the end of the project development. I have learned that
closure stage is a vital stage because it is at this stage that the project manager presents all
project documents such as contract agreement, financial records, and other project
development documents. These documents should coincide with the project agreements,
hence this stage is used to cross-examine all project activities to make sure the project has
been developed in accordance to the initially project plan. Additionally, I learned that a
project can only be closed if all the documents have been presented to the appropriate
personnel to ascertain if it meets all the project requirements.
Competencies of Project Team and its Impact
The project manager competency development framework is used to provide the
definition, assessment as well as development of project manager competence found on the
premise by identifying the competencies which often impact the performance of a project
manager. (PMCD framework what it is all about and how it is related to leadership) Project
team competencies refers to the skills and abilities of the teams to attain project goals and
objectives. These competencies include strong leadership, effective communication, risk
management skills, negotiation skills and planning and organisation skills.
Impact of competencies of project team on the success/failure of Maxima LT
Strong leadership: A strong leader is tasked with both guiding the project successfully
in terms of execution to completion and leading the project team to attain project goals.
Therefore, a strong managers motivates the project team when need arises. With respect to
Maxima LT which is the biggest retail trade operators in the Baltic States shown through its
achievement of a turnover of EUR 1.85 billion, it indicates that it has a strong leader.

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Effective communication: Research has shown that a good project manager communicates in
a clear and concise manner. Indeed, clear and effective communication establishes trust and
provides credibility to managers that ultimately increases the chances for a successful project.
Through effective communication, Maxima has succeeded in managing its large base of
employees. Consequently, effective communication is exhibited through Maxima’s strategic
recruitment, and training which has won employee loyalty. (explanation regarding how
PMCD is used in leadership)
Reflection and Recommendation
I have learned that ethics is highly significant to all projects. Consequently, project
managers are supposed to maintain ethics at all project management levels. All projects are
developed based on certain procedures and standards. These standards and procedures are the
ethical considerations that should be put into consideration when developing any project.
Therefore, Maxima being an organisation, it has various projects that it involves itself in such
as human resource management. For example, in 2006 Maxima realised a gross revenue of
EUR 1.85 billion which was a growth of approximately 21% compared to the past year.
Therefore, for Maxima to keep its spirit of reducing employee turnover it has to embrace
ethical codes to attain this target. For instance to improve on employee turnover, Maxima
should enhance professionalism, employee loyalty by investing more in Research and Design
(R&D) of its service delivery. With regard to the teachings that I have gained through this
course I would suggest that for Maxima to improve its operations it should set ethical
standards that will be the driving force for its workforce.
With regard to planning I have learned that planning is a vital stage in project
management hence project managers should draft it carefully since the success or failure of
any project depends upon this stage. I have therefore learned that all projects are supposed to
be planned with a lot of keenness to make sure the project does not crumble in the process of

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developing the project. In regard to Maxima LT, it has failed in its planning since it does not
have a dedicated R&D unit. Hence, Maxima should improve on its R&D have continuous
improvement to strategically manage its projects. This will help Maxima to nurture project-
minded individuals who are timely engaged in project practices.
Monitoring of the project helps to ensure that the project under development is crafted
to satisfy the needs of the customer. I have also learned that control is used in project
management to see to it that the product being developed is done based on how it was
planned. For instance, Maxima should monitor and control its project such as monitoring the
newly introduced air ticket voucher service with its airline partner. This will allow Maxima to
test the new service to ensure that it satisfy customers’ needs.
Conclusion
In conclusion, the success of project management is based on the five key process
groups advanced by PMBOK and PRINCE2 theories. I have noted that the achievement of all
projects is found on the five process groups.

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References
Ding, R. (2016). Fundamental Principles of Project Management. In Key Project
Management Based on Effective Project Thinking (pp. 37-55). Springer, Berlin,
Heidelberg.
Farkas, E. B. (2018). Review Guide to the Project Management Body of Knowledge 6th
Edition. PODIUM, (34), 85-88.
Joslin, R. & Müller, R., (2015). Relationships between a project management methodology
and project success in different project governance contexts. International Journal of
Project Management, 33(6), pp.1377-1392.
Kuusisto, J. (2008, January). R&D in services – 17 business case studies (DG Research
European Commission). Retrieved from
https://ec.europa.eu/invest-in-research/pdf/download_en/service_cases_071217c.pdf
McDermott, K.A., (2016). A mixed methods study: Evaluating the relationship of project
manager competencies and it project management methodologies.
Müller, R., (2019). Relationships between a Project Management Methodology and Project
Success in Different Project Governance Contexts. In Project Management
Methodologies, Governance and Success (pp. 111-140). Auerbach Publications.
Qazi, A., Quigley, J., Dickson, A. & Kirytopoulos, K., (2016). Project Complexity and Risk
Management (ProCRiM): Towards modelling project complexity driven risk paths in
construction projects. International Journal of Project Management, 34(7), pp.1183-
1198.

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