Closing a project is more than just about completing the project management deliverables. Although all these steps may seem tedious and time-consuming, formal closing a project will allow you to tie up all loose ends. This will ensure that all documents have been signed and approved, and contractors are paid. You will also learn project management courses. This allows you to evaluate and review the success or failure of your project. This is a crucial skill when planning and executing future projects.
What is project closing?
The lifecycle for a project consists of five parts:
- Group that initiates the process
- Group planning
- Execution process group
- The control and monitoring process group
- The group closing
The final stage in the project’s lifecycle is called closing. All deliverables must be completed, signed off, and documents submitted. Closing means that the project’s work has been completed according to plan and scope. All processes have been completed and the final sign-off received. This is also an excellent time to analyze the project and its successes and failures.
What should you include?
There are many steps involved in closing a project.
- Transfer any deliverables in writing – make sure to identify all deliverables from your project plan.
- Confirm completion of the project – Confirm that the project has been completed. This requires the agreement of all parties involved and is not something you can declare on your own. The client might still send changes requests if you have not confirmed that the project is over. To confirm, get all documents signed.
- Examine all documentation and contracts. Begin closing your contracts and reviewing all documentation to ensure that all work has been paid and that there are no outstanding invoices.
- Release resources – officially release all resources from the project. Notify everyone about the completion of the project and make final payments.
- Do a post-mortem. This is a review of the project and one of the most important project management skills. It will help you close your project. This will allow you to examine the successes, failures and challenges that a project has presented. This will help you see the potential for repeating your project’s success and where you can improve.
- Archive documentation – Complete all documentation and then archive it.
- Celebrate the achievement of completing a project. It recognizes the efforts of the team and boosts morale. It makes it easier for team members to be happy to work together in the future. This creates a more cohesive and effective unit.
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