The closing process group in project management, as defined by PMBOK 6, formally completes a project, phase, or contract, ensuring documentation of lessons learned and finalizations. This smallest process group entails verifying that all defined processes are completed, obtaining acceptance from stakeholders, and archiving project records. It encompasses three scenarios: closing a project, concluding a project phase, or prematurely terminating the project, ultimately aiming to enhance future projects through documented insights.