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Project Management

To close out a project, one must: 1) finalize and transfer all deliverables to the client; 2) confirm project completion by obtaining sign-offs from stakeholders agreeing the project is complete; and 3) review contracts and documentation to ensure all payments are made and no outstanding invoices remain.

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Sheel Shubham
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56 views3 pages

Project Management

To close out a project, one must: 1) finalize and transfer all deliverables to the client; 2) confirm project completion by obtaining sign-offs from stakeholders agreeing the project is complete; and 3) review contracts and documentation to ensure all payments are made and no outstanding invoices remain.

Uploaded by

Sheel Shubham
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

Formally transfer all deliverables

The first step to closing out project is to finalize and transfer the
project deliverables to the client. One should Go through the project
plan to identify all deliverables and make sure they have been fully
completed and handed off. 

2. Confirm project completion

Next, confirm the project is complete. Each person involved needs to


agree on the project’s completion before we can formally close it out
and move on. 

If one skip this step, he/she may continue to receive (and be charged
for) change requests by the client.  

To confirm the project’s completion, one will need to obtain approvals


for the project deliverables (i.e., all stakeholders must agree that we
delivered on all parts of the project plan) with official sign-offs from
the project stakeholders. 

One must document this step so they have proof that the project close
was formally signed off. 

3. Review all contracts and documentation

Once we have completed the project hand-off and received approvals


from the clients, we can begin closing out our contracts. 

We must Review all the project documentation to ensure all parties


have been paid for the work and there are no outstanding invoices. 

4. Release resources
Formally release resources from the project, including suppliers,
contractors, team members, and any other partners. Notify them of
the end of the project, confirm any final payments or obligations, and
officially release them so they are free to work on other projects. 

5. Conducting a project review

A post-mortem or project review is one of the most valuable steps of


the project closure process. This is a time to review the successes,
failures, and challenges of the project and identify opportunities for
improvement going forward. 

As we begin wer post-mortem, conduct a performance review of the


project. In other words, calculate the project’s performance in terms of
cost, schedule, and quality. 

Consider these questions: 

 Did we stay on budget? 


 Did the team members involved manage their time wisely?
 Were there issues with the quality or compromises along the
way? 

Have wer team consider the following questions: 

 What went well?


 What were the challenges or failures?
 How well did the team communicate?
 Did the team follow the outlined processes and plan?
 Was the client satisfied with the results?
 What would we change or improve for future projects?
With the project performance and feedback in mind, we can then
identify lessons learned and opportunities for the futurre

6. Archive documentation

Once we have completed our project post-mortem, we can finalize all


documentation (contracts, project plans, scope outline, costs,
schedule, etc.) and index them in the company archives for later
reference. 

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