Project Closing Process 2022

Running head: PROJECT CLOSING PROCESS
1
Project Closing Process
Name
Institution
Professor
Course
Date

PROJECT CLOSING PROCESS 2
Process of closing a project
Project closing is the last step in every project. This is where the aims and objectives of
the project are achieved and all the results presented to the stakeholders of the organization or the
management. At the end of this final process in the project, team members all go home or go
back to their normal duties (Livvarçin, 2018). The reports are produced here, and the budget
closed. The project is completed where the company claims payments from the customers as the
task is complete. The head of the team that is conducting a project presents the report to the
customers or the sponsors of the project. Some factors must be considered if you want your
project closure process to be sufficient (Ofori, 2016). The factors are adequacy of the activities
of closing, good communication, and presentation to the stakeholders and the last factor is how
the team members are competent (Nagyova, 2016). The team members are the determiners of the
project. They decide how the project will be. All the deliverables are transferred after being
finalized. The documents are also approved and signed here.
The purpose of the closure is to ensure that the project completed everything according to
the project plan. It also marks the closure of all management processes of the project
(Choudhury, 2017). The process is also helpful in making sure that all parties approve the
closure of the project after achieving all its goals. Lack of a well-planned closing process might
lead to confusion, loss of some details, or dissatisfied clients. In closing the project, you must
make sure you mention the names of the members of the team that conducted the process (Ika,
2016). Project completing also ensures that the project is handed over to the correct team that
will take care of management and maintenance. This minimizes the risks and makes sure that all
parties are on the same page.

PROJECT CLOSING PROCESS 3
Steps of project closing
There are steps to be followed when closing a project (Newton, 2015). To remember all
the steps, it is necessary to make a checklist of all the steps.
1. Transfer of all deliverables
The project manager must finalize and transfer all the deliverables to the sponsors or the client.
He or she should pass through all the deliverables and make sure they are all completed before
handing them over.
2. Confirm the completion
Every member involved in the project has to agree that the project is complete before formally
closing it. The manager needs to get approvals from all the deliverables of the project showing
that the stakeholders agree that the project delivered (Ece, 2016).
3. Review documents and contracts
Reviewing contracts and documents ensures that all the involved parties are paid according to the
agreements and ensure no invoice is unpaid.
4. Release sources
Releasing resources is a step that must be done. The resources include team members,
contractors, and suppliers. Confirm that they have all been paid.
5. Conducting a post-mortem
This is where the project manager reviews the success, challenges, failures, and identify
opportunities. A performance review should be conducted in terms of quality, cost, and schedule.
6. Archive documentation