Project Management Assignment On Maxima
Successful completion of this assignment will result in achievement of the following subject learning outcomes:
1. Understand PMBOK knowledge areas and process groups and their role, relevance and impact on project management best practice and PMI’s Code of Ethics.
2. Critically compare and contrast project management approaches and their appropriateness for managing a variety of project types.
3. Apply appropriate project management tools and techniques, paying particular attention to risk management.
4. Critically reflect on the leadership styles necessary to succeed in a range of project management situations, and their personal capacity to succeed in those situations.
Based on the purpose of this entire study, my entire concentration will be upon the diversified principles of project management and thus, I am going to limelight the effectiveness and its beneficiary approaches within an organisation and is about to disclose my earning acknowledgements regarding the significance of principles of project management. As per my knowledge that has been gained from several previous learnings that project management is one of the effective organisational approaches that helps every organisation and its employees to accomplish a project with immense accuracy. However, according to every project, the employees must need to select an adequate project management tool that will be highly appreciable for that specific project. In this very study, I have found that “Project Management Body of Knowledge” or PMBOK has been utilised in an effective manner to supervise and to accomplish the projects done by a specific organisation (Varajão, Colomo-Palacios and Silva, 2017). To limelight the beneficiary advantage of project management, an organisation has been chosen named MAXIMA, which is the largest retail store in Lithuania.
I found that “MAXIMA” operates its 508 stores in Lithuania. Being a largest employer in this operating market, I understand that there is an effective tool is excessively required to be implemented within the retail stores to operate all the stores in an effective manner. On the basis of that I found that “MAXIMA” uses “Research and Development Project Management” or R&D approach to manage its entire organisational operations (Costantino, Di Gravio and Nonino, 2015). Due to its excessive size, large number of projects are being managed by MAXIMA. On the basis of its operations, I have found that “MAXIMA” is highly capable to attract its customers towards the organisations and by providing its noteworthy customers services amid the large customer base, MAXIMA accessed consumers’ trust and loyalty is a wide range. By means of reviewing the case study, I have accredited that by accomplishing its entire organisational operations in an effective manner, “MAXIMA” is consistently growing in the market and also increasing its entire size and other operational approaches.
In order to maintain the organisational brand image into the emending market and its loyal customer base, “MAXIMA”utilises R&D project management tool, which is one of the effective project management tools within the context of PMBOK. R&D is referred to as one of the difficult responsibilities in comparison with other operational tools. By optimising the given case study, I have gathered some significant knowledge regarding the recruitment process of MAXIMA. “MAXIMA” has more than 8500 employees within its all over retail stores and being one of the leading retail stores in Lithuania, “MAXIMA” comprises with the effective approach of R&D and on the basis of that the entire recruitment process and training is provided to its employees in order to upsurge the employability amid its employees. The very approach is obtained by “MAXIMA” in order to offer the best services amid its entire consumer base. I also found that the major strength of “MAXIMA” is obtained from its highly skilled employees and its operational approaches. Without appropriate training, skill and accuracy towards the job role of the employees cannot be increased and thus, employees will not be able to operate their job in adequate manner. By acquiring knowledge from my previous studies, I have discovered that lack of training and skills of the employees is one of the major impacts that every organises face during its operational approaches and thus, entire project may fail, which will impact the entire organisation and as a result, both the productivity as well as the profitability will be hampered in a wide range. In this very situation, “MAXIMA” is well aware regarding its brand image and its sizes and thus, “MAXIMA” does not want to get hampered from any of these obstacles. On the basis of that, I saw that “MAXIMA” utilises the effectiveness of R&D project management approach in its overall operations in order to sustain its brand image and its loyal consumers (vomBrockeand Lippe, 2015).
Not only “MAXIMA” utilises the beneficiary advantages for recruiting its employees, but also the leading retail store improves its locations by obtaining the approach of R&D project management diagnostic tool (Costantino, Di Gravio and Nonino, 2015). The case study also helps me understand that choosing an adequate place for operating a business, is one of the significant operational strategy that helps an organisation to operate its business in a large number of customers. According to my opinion, “MAXIMA” also looks forward to establish its retail stores by obtaining the strategical approach of R&D project management tool and thus, I have noticed that all the retail stores of MAXIMA is situated in a customer friendly place. Besides its business strategy, “MAXIMA” also thinks about its large consumer base as they can easily track the locations of the retail stores. Based on the contextual statement, I can easily conduct that R&D project management approach is one of the effective marketing strategies that plays the major role behind the immense success of this leading retail store in the operating market of Lithuania.
Operating such large numbers of retail store is one of the toughest jobs in relation with its other organisational operations. “MAXIMA” gains its success and long-term sustainability on the basis of their large consumer base and the loyal customer service that is provided by the retail store in an effective manner. Large number of customers is the core factor that influence “MAXIMA” to implement consumer friendly organisational strategies within its retail stores. I have also acknowledged that by obtaining the effectiveness of R&D project management tool, “MAXIMA” placed its retail shops in appropriate places, where their valuable consumers can easily track down the locations of their retail stores. On the basis of that, I have understood that an organisation cannot upsurge its success level by simply implementing strategical approaches. In order to manage diversified organisational strategies such as recruitment, training, placement of the stores, choosing the best option for their valuable customers, a project management tool is excessively required to be implemented within the organisational operations (Papke-Shields and Boyer-Wright, 2017). According to my viewpoint that is gained from the very study, R&D is one of the effective project management tools that helps every organisation in every possible manner. The same approach is to be seen in the case of MAXIMA. Correspondingly, I have noticed in this case study that “MAXIMA” does not possess any specific R&D department within their retail stores. This specific approach increases my curiosity that how “MAXIMA” is able to manage its entire and large number of projects without having any prior R&D department (Costantino, Di Gravio and Nonino, 2015). For further learning, I went for additional searching of knowledge that how “MAXIMA” is though able to manage its operations and then I found that each and every employees of this retail store are stimulated with specific duty and responsibility according to their job role and position within the retail store. As per my further research, it is found that the employees do immense survey and make certain proposals for implementing better improvement within the retail stores. Based on that, I have learned that in order to manage the entire operations R&D not only relies on the approach of R&D, but also utilises the effectiveness of project management tools with the help of their employees as well. Also, “MAXIMA” implements effective R&D into their systematic services corporate services for maintain an adequate “Balanced Scoreboard”, on the basis of which, “MAXIMA” will be able to understand which sections are required to make improvement for better sustainability within the emerging market. As per my learning area, I understand that systematic project and adequate budget is excessively required for making additional improvement within the organisation (Papke-Shields and Boyer-Wright, 2017). However, it is one my concerns that in order to operate a systematic project within a business entity, appropriate manner of project management tactic is excessively required to be implemented. Based on this, I have seen that “MAXIMA” assigns their employees with great responsibility to manage the projects as well as the allocated budget for making better and effective improvement within the retail stores. Therefore, the employers of “MAXIMA” will be able to cover each and every existing gaps and conflicts in an effective manner with great responsibility of the assigned employees.
Moreover, “MAXIMA” has industrialised the project of construction of new shops with maximum level of aptitude. Likewise, the employers of “MAXIMA” is looking for constant improve competencies for their upgraded and innovative potential shops. Construction of their upcoming shops is one of the great and significant projects that “MAXIMA” wants to accomplish in an effectual manner. Based on the stated confront, R&D plays the most valuable role for “MAXIMA” to accomplish the project with immense accuracy and in time, so that their brand image can be expand in a wide range and more existing and potential customers can obtain their loyal services in a large manner (Varajão, Colomo-Palacios and Silva, 2017). Also, by obtaining the strategical tactic of R&D, “MAXIMA” launches several services including air ticket and communication services bills. This approach not only helps “MAXIMA” to expand its loyal services in a wide range, but also attracts more consumers towards the organisation. Therefore, I have learned that R&D is one of the effective project management tools that helps an organisation to increase its organisational operations and to manage its potential and existing project in every possible manner. This learning will also me in future if I get employment in any organisation and will help me to manage any assigned project with immense significance.
Costantino, F., Di Gravio, G. and Nonino, F., 2015. Project selection in project portfolio management: An artificial neural network model based on critical success factors. International Journal of Project Management, 33(8), pp.1744-1754.
Papke-Shields, K.E. and Boyer-Wright, K.M., 2017. Strategic planning characteristics applied to project management. International Journal of Project Management, 35(2), pp.169-179.
Varajão, J., Colomo-Palacios, R. and Silva, H., 2017. ISO 21500: 2012 and PMBoK 5 processes in information systems project management. Computer Standards & Interfaces, 50, pp.216-222.
vomBrocke, J. and Lippe, S., 2015. Managing collaborative research projects: A synthesis of project management literature and directives for future research. International Journal of Project Management, 33(5), pp.1022-1039.