The document discusses the process of closing a project or project phase. It involves two main procedures: closing procurements and administrative closure. Closing procurements involves verifying work was acceptable and finalizing contracts and records. Administrative closure includes closing each project phase, collecting results and lessons learned, and obtaining formal customer acceptance. Project closure documentation includes details of administrative closure, product verification, contract termination if needed, payments, acceptance documents, project files, and historical information.

1. UNIT V
PROJECT CLOSING PROCESS
BY NISHANT

2. Closing a project
Closing a project is a process of finalizing all activities across all the
project management groups to formally close the project or a
project phase.
Two procedures are developed to establish the interaction necessary to
perform the closure activities across the entire project or for a project phase:
◦ Closing Procurements
◦ Closing Project or Phase(Administrative Closure)
The process also includes activities to investigate and document the reasons if a
project is terminated before completion.

3. Procurement Closure
Procurement closure involves:
 Verification that all work and deliverables were acceptable
 Administrative activities such as finalizing open claims, updating
records to reflect final results and archiving such information for
future use
Note—The above is applicable for all contracts applicable to the
project.

4. Administrative Closure
Administrative closure includes:
• Close each phase of the project
• Collect and summarise project results, compare to plan time, cost,
scope and technical approach
• Gathering the lessons learned
• Formal documented acceptance by customer
• Archive and index project records for future reference

5. Project Closure
The data to be documented includes:
 Administrative closure
 Product verification
 Early contract termination conditions
 Payment terms
 Formal acceptance documentation
 Project files
 Project closure documents
 Historical information

6. Assignment
 Explain the importance of documenting lessons learned.
 Explain the formal way of closing the project after archiving the project records

7. THANKS