Project management essay on the give case study.
Context: A project is a temporary endeavour undertaken to provide an expected and beneficial outcome. A project life cycle is the series of phases that a project passes through from its initiation to its closure. Project goals should align with organisational goals such as improved operations or increased revenues, reducing costs or improving efficiencies. Before resources can be committed to a project, the reason for its proposal and the benefits it is expected to deliver need to be understood by people in positions empowered to make decisions about the expenditure of an organisation's resources. The selection of organisational projects is typically performed through a method of classification and review of the project’s business case. That method of course should be applied consistently to all project proposals. Instructions: For this assessment, you research different methods of selecting projects and examine the initiation process. You also consider the Project Management Body of Knowledge (PMBOK) guide and, more specifically, explore the initiation documents. Assessment 2: Project Selection Methods and Initiation Documents (35%) In essay writing, use the given/approved project throughout this assessment. As you have discovered in your learning resources, examine project selection methods that can be applied appropriately to the given project and processes to conduct these methods. Consider the Project Management Body of Knowledge (PMBOK) and describe the initial process group and project documents that are created or used as inputs for a new project. Your assessment should contain 1300 words. Learning Resources: Government of Tasmania (n. d.). PM-902 Business Case (Small) Template & Guide. Retrieved from http://www.egovernment.tas.gov.au/project_management/getting_started_in_project_ma nagement Herman, B. and Siegelaub, J. (2009). Is this really worth the effort?: The need for a business case. Retrieved from https://www.pmi.org/learning/library/need-business-case-6730 Laureate Education (Producer). (2013) The practice of project management [Video file]. Baltimore, MD: Author. Learning and Academic Skills Unit. (2016). Academic Writing Guide. APA 6th ed. Sydney, Australia: Laureate Australia. NSW Treasury. (2018). NSW Government Business Case Guidelines. Retrieved from https://www.treasury.nsw.gov.au/sites/default/files/2018-08/TPP18- 06%20%20NSW%20Government%20Business%20Case%20Guidelines.pdf Project Management Institute. (2013). A guide to the project management body of knowledge (PMBOK guide) (5th ed.). Newtown Square, PA: PMI. Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK guide) (6th ed.). Newtown Square, PA: PMI. CASE STUDY Maxima LT is the largest retail trade operator in the Baltic States, and it achieved the turnover of EUR 1.85 billion in 2006. It shows around 21 % growth in turnover from the previous year 2005 and the company forecasts a 20% growth in turnover this year (2007). Currently the company operates over 370 retail outlets in Lithuania, Latvia, Estonia and Bulgaria. The number of shops by country is as follows: Lithuania – 209, Latvia – 115, Estonia – 39, Bulgaria – 17. All together MAXIMA LT has around 14,500 employees in Lithuania. In other countries MAXIMA LT has some 8,500 employees. Key findings MAXIMA is the largest employer in the Baltics and it recognises that its strength are largely based on its employees whose professionalism, loyalty and spirit have played a crucial role when the business has built its position as the leading retailer in the Baltic countries. MAXIMA has set the strategic objective to recruit, train and keep the best employees and to earn their loyalty. On top of that, it seeks to maximise the output by applying as many automated work processes as possible. As part of the business planning MAXIMA stores and shopping centres are positioned at shopping-friendly locations. Issues that are considered in the decision-making include the size of the local populace, the traffic and flow of shoppers, the convenience for shoppers to access the store by private and public transport. The name of the entire chain, MAXIMA is seen as a guarantee for uniform quality and the best prices. In order to take into account the different needs of shoppers, the outlets come in different sizes and different formats including local community stores, stores designed for large city districts or towns with populations of 12,000 – 30,000, and the largest regional and national shopping centres are hypermarkets that offer the most extensive assortment of goods. Nature and organisation of R&D in services MAXIMA has no dedicated R&D unit. However, each organisational unit is charged with responsibility to survey trends/novelties in their respective areas and make proposals for improvement projects. Also the organisation improvements are assigned to the managers at all organisational levels. Systematic R&D in services is partly built into the corporate strategy process that utilises the Balanced Scorecard methodology. Gaps between existing situation and strategic objectives are filled in with strategic initiatives/projects. Responsible managers are assigned to implement the projects and budgets are assigned to those projects that are accepted for further development. Although MAXIMA has developed high level of competency in the new shops construction projects, it seeks to continuously improve competencies in managing strategic projects. The company’s major challenges are to ensure a critical mass of project-minded people and to manage timely involvement and communication on project activities within the large organisation. The cornerstone of the business is the provision of convenience shopping to customers - through suitable shopping formats and services available within in them. In addition to traditional retailing activities, the service offer includes mobile communications services (through a provider owned by MAXIMA), insurance services, MAXIMA has recently launched the air ticket vouchers service with an airline partner (customers can buy air ticket vouchers at check-out counters in shops). MAXIMA is also testing a new service which allows customers to pay their communication services bills at check-out counters in the retail outlets. The company operates a Customer loyalty card programme that provides its members access - at privileged terms - to services of partner businesses working in pharmacy, petrol and other sectors. Within supermarket and hypermarket formats MAXIMA stores have dedicated space for tenants who provide a wide array of services to shoppers. MAXIMA also has firm plans to continue to add new services to its existing portfolio. In terms of services efficiency, MAXIMA constantly analyses customer self-service options and invest heavily into supply chain improvements. In terms of public funding EU structural funds are used to support staff competence development in the service organisation. Kuusisto, J. (2008, January). R&D in services – 17 business case studies (DG Research European Commission). __________________________________________________________________________________ Here are some additional information and instructions that will help guiding your development. Consider that the organisation in 2006 has a turnover of EUR 1.85 Billion (as per the case study) and their goal is to reach EUR 4 Billion in 2012. Consider the following Mission/Vision/Values of the organisation: Maxima’s” mission We responsibly create value by ensuring the best price, assortment, and customer service. Vision Most valued retail company in Lithuania. Values: We work for the customers We work in such a way that makes customers want to come back again.· We treat our customers fairly.· We offer what customers need. Everyone is important· I treat someone the way I want to be treated.· I respectfully communicate with colleagues, partners, and clients.· I am a responsible member of the community. A united team· We listen to each other.· We share knowledge and experience.· We respect the work and time of others. just do it· We are active.· We take responsibility.· We support initiatives. Consider that, for the company to achieve the above, they have 3 different possibilities. So think about what could be 3 new projects that the organisation could do to achieve that. Please explain briefly in your assessment what are these ideas for new projects (assume you’ll have 3 business cases). From the 3 business cases, consider and apply different selection methods that Maxima could used to select one of the 3 projects (follow the Assessment brief requirements for it) From this process, choose one of these ideas/business cases to be initiated as a project and describe the Initial Process Group according to the PMBOK (follow the Assessment brief requirements of it)