Projects are a temporary undertaking, so they have a beginning as well as an end. The ‘project management groups’ are the phases of a project’s life cycle. Each process group has a specific objective. But what is the purpose of project closure? Is the project finished when the work is done and the result handed out? No. You should detail everything during the final phase of the project’s life cycle, which is the project closing, in order to determine if the project went according to plan and if the customer was satisfied with the result.
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This article will outline the key steps to a successful closing phase. Learn more about project management with our online PMP or CAPM training.
What is the objective?
Project closure activities include recording project documents, archiving organizational process assets, making final payment, releasing resources, and completing the project. Each project is an opportunity to learn from the mistakes and successes of others. Even after a project is completed, the documentation of the project will be useful for future projects.
You should consider closing process group activities to ensure a successful project closure. Let’s take a look at them one-by-one.
What are the 8 steps?
Step 1: Confirm that work has been completed according to the requirements
All deliverables must be completed and handed to the customer by the time the project is finished. For the finished work, you must also accept the customer’s formal acceptance.
Step 2: Complete the procurement closing
You should make any payments to suppliers or partners that are due to be paid as the project is ending. You have also completed the procurement steps.
Step 3: Accept formal approval of the project
The customer is required to accept the project and deliverables in writing. Usually, the customer presents a written statement, such as an email or signed off document. This document states that the project is complete and that they accept the project’s outputs.
Step 4: Final performance reporting
The project’s final performance is calculated and recorded. These include the cost performance, schedule performance and quality performance. This could be, for example, whether the project was completed within budget or if it was not, how much the project cost over the budget?
Step #5: Indexing and Archiving Records
Finalized documents are collected. All documents related to the project, including the final project management plans, are archived in company records.
Project Closure Step #6: Update lessons learned
All stakeholders are able to contribute their lessons learned. The company’s organizational process assets contain the lessons learned documentation.
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The project is complete when the product is handed over to the customer. You may need to provide documentation or assistance for the handover.
Step #8: Let go of the resources
Once the project has been completed successfully, all assigned project resources are closed. Lessons learned inputs are taken from the project resources and these resources are then released.
As you can see, project closure is just as important as any other phase.