6 steps to close a Project: Project Closure Process
Closing a project is the last and essential phase of Project Management. The primary purpose of project management is to close the project successfully. Closing project is not only completing and handing over the deliverables. There are many administrative tasks involved to complete the job. It is imperative to define the project's completion criteria that apply approvals, signatures, payments, and handing over documentations.
The closing of the project is the final phase of the project lifecycle. This phase will ensure that the project is completed according to the project scope and plan. Without completing this phase, the project can create confusion or liability issues.
The steps involved in closing the project:
- Transferring the deliverables
- Confirmation of project completion
- Conducting Post mortem of the project
- Reviewing all the contracts and documentation.’
- Releasing resources
- Archiving the documents
1. Transferring the deliverables
According to the client’s requirements, handing off all the deliverables is the first step of closing the project. Finalize each deliverable aligned with the project plan and transfer all the files keeping the copy of each deliverable. There are three types of project deliverables.
Final handing over of the project deliverables includes the entire project scope. Before sending, make sure the final project deliverables have covered all the project scope tasks.
2. Confirmation of project completion
Sending all the final deliverables is not enough to declare project completion. Stakeholders involved in the project. This stage of closing the project is crucial to avoid further delay and change requests. Each stakeholder should apply in this stage and declare the completion from their end. For confirmation, every stakeholder needs to get the approvals and officially sign off from the project.
3. Conducting Post mortem of the project
Reviewing the project is a very crucial and essential step in the closing process. In this step, the project’s performance is measured in budget, schedule, and quality. The success or failure of the project is decided in this step. The project performance is determined by conducting a meeting with all the project management stakeholders and discuss the success, failure, and challenges faced at each stage.
4. Reviewing all the contracts and documentation
Once you handoff the deliverables and confirm the completion from the client’s end, make sure all the project documentation is reviewed. This stage also covers the closing of the external contracts and clarifies all the payments and invoices raised. The deals can also be closed in any stage of the project, but it is reviewed again at project phase's closing.
5. Releasing resources
Release all the resources once you finish the project contracts and documents. This stage includes all the stakeholders, external contractors, suppliers, team members, and partners. Inform them of the end of the project and make sure there are no pending payments or obligations. You can directly release the resources or shift them to any other project officially.
6. Archiving the documents
To keep all the records for further reference, archive them or index all the documents related to contracts, project plans, scope outline, costs, schedule, etc. This is a significant step to keep track of all the project performances, growth, and improvement opportunities. These documents can be a reference to future projects.
Every project has to end with all the required documentation in the processes as mentioned above. The project is successfully closed when the project manager of the organization meets customer needs and satisfaction. Get certified in PMP to learn more about the closing of the projects.
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