Many people believe that project closure is unimportant in project management, but this is not the case. Closing a project is an important process in Project Management, just like the others. Until and unless your project has been completed in accordance with the planned procedures, it has no official value to the organization.
You may have completed the deliverables, but that does not mean your project is finished. Ignoring this process results in ineffective project management on the part of the project manager. Because finishing a project is just as important as starting it, let’s look at the activities involved in the project closing stage.
In this article, we will go over the following activities that are involved in the project’s final stage:
Formal customer approval
Analysis of the final product scope
Make the resources available.
Closure of procurement or another contract
The project files are being indexed.
Documentation of lessons learned
Celebration
Product Scope Analysis, Indexing, and Documentation: How to Finish a Project
Contents Page
Formal Customer Approval
Analysis of the Final Product Scope
Make the Resources Available
Contract Closure (Procurement or Other)
The Indexing of Project Files
Documentation of Lessons Learned
Conclusion of the Celebration
Many people believe that project closure is unimportant in project management, but this is not the case. Closing a project is an important process in Project Management, just like the others. Until and unless your project has been completed in accordance with the planned procedures, it has no official value to the organization.
You may have completed the deliverables, but that does not mean your project is finished. Ignoring this process results in ineffective project management on the part of the project manager. Because finishing a project is just as important as starting it, let’s look at the activities involved in the project closing stage.
In this article, we will go over the following activities that are involved in the project’s final stage:
Formal customer approval
Analysis of the final product scope
Release resources Procurement or other contract completion
The project files are being indexed.
Documentation of lessons learned
Celebration
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Formal Customer Approval
You’ve completed the deliverables (products, services, or results), but that doesn’t mean your project is finished. The customer must sign off on the delivered deliverables in writing. If the customer approves, the project can be declared complete or Project Closure time can be set.
As an example, consider the worst-case scenario. Let’s say the customer receives the deliverables and complains that the work isn’t up to par, necessitating some rework—this will cost you more money. Another serious issue would be the need to reassemble the project team. As a result, formal sign-off is required for project completion.
Analysis of the Final Product Scope
During the planning stage, you should always analyze your product scope to see if it is adequate. Please keep in mind that all of the product’s features must be met 100% of the time. Only after this has been clarified should the project be considered complete.
Make the Resources Available
After delivering the deliverables and receiving formal customer approval, the project manager must hand over the resources to their respective departments so that they can be sourced for future projects. When releasing resources, make sure to follow the correct policies of your performing organization.
Contract Closure (Procurement or Other)
Contracts with any third-party vendors or subcontractors who have worked on the project must be closed. Contracts should be closed once they have produced deliverables and you have delivered them to your end customer; those contracts have no meaning after the deliverables have been accepted.
The indexing of Project Files
Once the project is completed, the deliverables are handed over to the customer, and the customer signs off, compiles the project Closure files, and distributes them to your entire list of key stakeholders. The archived files might come in handy in the future.
Documentation of Lessons Learned
Once you’ve received your customer’s formal approval, you should work on documenting the lessons learned from this project so that they can be used as a reference for future projects. Such documentation could be reused, saving you from having to work on it over and over again.
Lessons learned could be used to evaluate the circumstances surrounding accepted or rejected change requests, the history of schedule control, and cost control. It is an important document in the event that the project is terminated. During that process, you should involve all of your stakeholders.
Celebration
Finally, the stage comes when you must organize a celebration for all of your team members and stakeholders. They should be proud of the accomplishments they achieved as a group. Many project managers overlook this stage, despite the fact that it is extremely beneficial to the morale of the entire project team.
