Project Closeout
The practice of project closeout finalizes all project activities completed across all phases of the project to formally close the project and transfer the completed or cancelled project as appropriate.
The purpose of project closeout is to assess the project, ensure completion, and derive any lessons learned and best practices to be applied to future projects. However, in multi-phase projects, the close-out practice may be applied at various stages of the project; upon deliverable completion, upon phase completion, upon iteration completion, at designated times during the project’s life, or at whatever other juncture represents a completed segment of project work. Applying the close-out practice in this manner closes out only the portion of the project scope and associated activities applicable to that portion of the project.
The practice of project close-out consists of two main activity groups:
- Administrative Closure
Contract Closure
Administrative Closure
The administrative closure process defines activities, interactions, and related roles and responsibilities of the project team members and other stakeholders involved in executing the administrative closure procedure for the projects.
Contract closure includes activities and interactions needed to settle and close any contract agreements established for the project, as well as those related to supporting the formal administrative closure of the project.
Confirming the project has met all sponsor, customer, and stakeholder requirements
Verifying that all deliverables have been delivered and accepted
Validating exit criteria have been met
Contract Closure
Contract closure includes activities and interactions needed to settle and close any contract agreements established for the project, as well as those related to supporting the formal administrative closure of the project.
Contract closure involves verification that all work has been completed correctly and satisfactorily, updating of contract records to reflect final results, and archiving information for future use. Among other activities contract closure includes:
Confirming the project has addressed the terms and conditions of the contracts
Confirming completion of exit criteria for contract closure
Formally closing out all contracts associated with the completed project
Project closeout should be anticipated and planned as early as possible in the project lifecycle even though it is often the last major process of a project’s life. At a high-level, the key elements of project closeout are:
Verify acceptance of final project deliverables
Conduct post-project assessment and lessons learned
Conduct post-project review and evaluation
Recognize and celebrate outstanding project work
Disburse project resources – staff, facilities and automated systems
Complete and archive final product records
Ensure transfer of knowledge
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