ProductsLogo
LogoStudy Documents
LogoAI Grader
LogoAI Answer
LogoAI Code Checker
LogoPlagiarism Checker
LogoAI Paraphraser
LogoAI Quiz
LogoAI Detector
PricingBlogAbout Us
logo

Project Closure and Documentation for First National Bank

Verified

Added on  2023/03/21

|10
|1984
|69
AI Summary
This report provides a summary of the project closure phase for the First National Bank, including the completion of milestones, project status, issues, and risks. It also highlights the importance of documentation and the use of project management principles for successful implementation.

Contribute Materials

Your contribution can guide someone’s learning journey. Share your documents today.
Document Page
Running head: CAPS 6 1
Caps 6: Project Management
Name:
Institution:

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
CAPS 6 2
Status Report 04-06-2019
Project Name First National Bank
Report Prepared By SHAIK AZEEM
Academic Supervisor LUKE WEBSTER
Industry Supervisor (If Any) N/A
Attachments N/A
MILESTONE OVERVIEW:
ID Milestones (minimum three) Status
Baseline
Completi
on Date
Expected
Completi
on Date
Change
? (Yes,
No,
New)
E1
Completion of initiation
phase
Completed 26-03-19 26-03-19 No
E2
Completion of planning
phase Completed 15-04-19 15-04-19 No
E3
Completion of execution
phase Completed 22-05-19 22-05-19 No
Completion of closure
phase Completed 03-06-19 03-06-19 No
PROJECT STATUS SUMMARY:
Narrative Summary of Status Schedule: GREEN Budget: YELLOW Issues: RED
The project closure phase was undertaken. A post project review was undertaken, together with a sign off of
the stakeholders. Additionally, documentation of the project and its processes was duly undertaken. The
project was able to run according to the set milestones, resources, schedule and scope. The project was
therefore successfully brought to a close.
PROJECT MILESTONE STATUS REVIEW:
Project
Plan ID Project Milestones Status
Baseline
Completio
n Date
Expected
Completio
n Date
Issues
Exist
(Yes/No)
E1 Completion of initiation phase Completed 26-03-19 26-03-19 No
E2 Completion of planning phase Completed 15-04-19 15-04-19 No
Document Page
CAPS 6 3
E3 Completion of execution phase Completed 22-05-19 22-05-19 No
E4 Completion of closure phase Completed 03-06-29 03-06-29 No
PLANNED ACCOMPLISHMENTS SUMMARY:
Planned accomplishments for the coming two weeks: Since the project is coming to a close, there are no planned activities going forward.
PROJECT ISSUES SUMMARY:
ID Priorit
y Issue Description
Impact Summary
(Milestone, Schedule
Scope, Resources,
Space…)
Action Steps
1 2 Post project review may not
have captured some initial
issues or handicaps that the
project faced.
This may impact on
overall project outlook
as it may make the
project appear as it run
without hitches and yet
these hitches, issues or
handicaps are essential
to capturing lessons
learnt for use by the
First National Bank
going forward.
All issues that had been initially
been left out were duly
captured by the reviewing team.
2 1 Since different parts of the
project were executed by
different people, it was difficult
to assemble all the
documentation from the
different leaders of the different
teams involved in the project
(Nicholas & Steyn, 2017).
Additionally, there was no set
format for documenting the
This may impact overall
on the project as
inadequate
documentation may not
portray a correct picture
of how the project was
implemented, or the
processes of the project
(Le Roy & Fernandez,
Members were urged try their
best and document their
sections of the project that they
implemented. A documenting
format was quickly made and
shared for their use.
Document Page
CAPS 6 4
project’s activities which made
it even harder to compile the
project’s documentation with
varying formats
2015).
PROJECT RISK SUMMARY:
I
D
Priorit
y
Probabilit
y of
Occurren
ce
Risk Description
Impact Summary
(Milestone, Schedule
Scope, Resources,
Space…)
Response Strategy
1 High High There is a risk of
not documenting
the project well
because of the lack
of a standardized
documentation
format and the fact
that different
players in the
project
documented the
project to varying
degrees of detail.
It is also possible
that in some
aspects of the
project, personnel
were more
concerned with
implementing the
project rather than
documenting it.
This may impact on the
overall outcome of the
project because
documentation that is
below par threatens to
provide an inaccurate
state of affairs of the
project and it may not be
the best to use for future
activities (Kerzner &
Kerzner, 2017).
A documentation template was
developed to standardize the
process of documenting the
project. Additionally, members
in charge of documenting were
advised to pay keener attention
to documentation of the
activities.
2 High High During the review
of the project,
there is a risk and
tendency by
people not to
This may overall impact
on this and other
projects to come as it
may show a successful,
easy and hardship-free
Reviewing of the project needs
to take care of all aspects of the
projects and cover all successes
for replication as best practices
and challenges for adoption as

Paraphrase This Document

Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Document Page
CAPS 6 5
capture the real
challenges and
difficult patches of
the project
undertaken; but
rather to focus on
the good side of
the project;
particularly since
it came to a
successful close.
This refers to
challenges faced
particularly by the
implementing
teams.
aspect of the project
implementation which
might not necessarily be
the case.
lessons learnt and for the
purpose of avoiding to fall in the
sale pitfalls during the
implementation of another
project.
ASSISTANCE REQUESTS:
ID Description including reference to milestone
impacted Action Requested
1 Danger of failing to document the project properly
and potentially develop documentation that is of
poor quality or that is not reflective of the actual
processes undertaken during project documentation
due to lack of a uniform documentation procedure
and varying degrees of documentation by various
participants in the implementation process (Joslin
& Müller, 2016).
Need for a documentation template to be
developed and shared by all implementing
members.
Need for members to document to the required
minimum threshold of documentation in order to
ensure that the documentation process is of
uniformly high quality (Uhl & Gollenia, 2016).
2 Danger of project review to fail to capture major
handicaps experienced during project
implementation.
Need to enlighten members about the need for all
experiences encountered during project
implementation, whether positive or negative, to
record them, so that any person accessing the
review report can be able to get a clear picture of
the processes of the project (Sánchez, 2015).
Document Page
CAPS 6 6
Document Page
CAPS 6 7
PROJECT NOTES:
Description of tasks that have been achieved
Log Sheet
First Name: SHAIK Surname: AZEEM
Name of the organization: First National Bank
Week #: 8th week
Day Date Details of tasks completed during this period
4 days 23-05-19 Post-project review: A review of the entire project was carried out after
the implementation phase.
1 days 29-05-19 Stakeholder sign-off: Stakeholders officially signed off and in the process
disengaged with the project.
3 days 30-05-19 Documentation: The project was duly documented in full; involving all
the pre-execution and execution stages of the project.
1 days 03-06-19 Completion of project closure stage: The project was officially closed.
Certified by the supervisor/employer

Secure Best Marks with AI Grader

Need help grading? Try our AI Grader for instant feedback on your assignments.
Document Page
CAPS 6 8
I confirm that this is an accurate summary of work performed in this period
Signature: SHAIK Name: SHAIK Date: 04-06-19
The Outcome and its Relation to the Project
During project implementation, it is important to adhere to timelines and budgets for the
respective activities. The previous report captured the events that were undertaken before the
close of the project. It was noted that monitoring or keeping tabs on performance of the project on
a week to week basis helps to track the progress of the project. The utilization of PPM principles
coupled with the utilization of portfolio management principles after identification of issues and
their root causes has led to ensuring that the First National Bank is on course to improve in its
general performance through the implementation of this project.
In this report, the closeout procedures for the project at the First National Bank have been
captured. It is important to have closeout procedures to any project in order to ensure that projects
end in the right well, and are well documented / reviewed for future teams to make use of the
experiences therein (Bibarsov et al., 2017). Documentation plays a very important role and it is
critical that it is well done so as to ensure a holistic picture of the project, because the adage says,
“if it is not documented, then it did not happen…” this project can therefore be adjudged to have
ended well despite a few hiccups.
Supporting Commentary and Reflection
As a continuation of the first report made on this project, I have still appreciated the use of PPM
principles and portfolio management principles (against a background of determining the
associated issues and their root causes) as being central to providing a lasting and permanent
Document Page
CAPS 6 9
solution to the problems faced by the first national bank. By employing a log sheet, it becomes
practical and easy to track the progress of a project, with strong points and weak areas being noted
for possible replication and future correction or avoidance respectively. This project was
successfully implemented largely due to the presence of a strong framework for monitoring its
progress and applying corrective or remedial measures to ensure that it does not get out of hand in
terms of delivering on its goals. The monitoring framework also ensured that the project was
finished in time and within the assigned budget. This is also quite encouraging for a project of this
nature.
I have learnt from this last part of the project that project closure procedures are just as important
as other stages of the project implementation process. Review and documentation of project
activities needs to be undertaken in an impartial way in order to ensure that the real picture of the
processes undertaken and experiences undergone are captured (Badewi & Shehab, 2016). Overall,
PPM principles and portfolio management principles continue to hold the key to the success of the
First National Bank in the medium and long term. The bank therefore needs to continue stressing
of applying PPM and portfolio management principles for continued and sustainable success.
Document Page
CAPS 6 10
References
Badewi, A., & Shehab, E. (2016). The impact of organizational project benefits management
governance on ERP project success: Neo-institutional theory perspective. International
Journal of Project Management, 34(3), 412-428.
Bibarsov, R., Khokholova, I., & Okladnikova, R. (2017). Conceptual Basics and Mechanism of
Innovation Project Management. European Research Studies, 20(2), 224.
Joslin, R., & Müller, R. (2016). The relationship between project governance and project
success. International Journal of Project Management, 34(4), 613-626.
Kerzner, H., & Kerzner, R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. Hoboken, New Jersey: John Wiley & Sons.
Le Roy, F., & Fernandez, S. (2015). Managing coopetitive tensions at the workinggroup level:
The rise of the coopetitive project team. British Journal of Management, 26(4), 671-688.
Nicholas, M., & Steyn, H. (2017). Project management for engineering, business and
technology. Abingdon-on-Thames: Routledge.
Sánchez, A. (2015). Integrating sustainability issues into project management. Journal of
Cleaner Production, 96, 319-330.
Uhl, A., & Gollenia, L.(2016). A handbook of business transformation management
methodology. Abingdon-on-Thames: Routledge.
1 out of 10
[object Object]

Your All-in-One AI-Powered Toolkit for Academic Success.

Available 24*7 on WhatsApp / Email

[object Object]