IPA: /ˈmæksɪmænd/
KK: /mækˈsɪmænd/
A quantity or thing that is intended to be increased or maximized in a particular situation or context.
In decision theory, the maximand is the goal that one aims to achieve or optimize.
Maximand is formed from "maximus" (meaning greatest) and the suffix "-and" (indicating a person or thing that is the subject of an action). The term refers to the entity that is being maximized or made the greatest in a given context.
Think of 'greatest' ('maximus') and remember that a 'maximand' is something that is being made the greatest.