Discuss what is meant by the closeout process and what elements do you think would apply to your project? Solution Discuss what is meant by the closeout process? The Project Closeout Phase is the last phase in the project lifecycle. Closeout begins when the user accepts the project deliverables and the project oversight authority concludes that the project has meet the goals established. The major focus of project closeout is administrative closure and logistics. Project closeout includes the following key elements:.