Project Closure

Project closure is the last phase which puts an end to a project. Project closure takes time because it involves meetings to close the project, analyse whatever project was successful or not, mistakes/wins identification etc...

There are 4 ways to close the project

1 Extinction - If project ended unsuccessfully and was halted or project was very successful and achieved it's targets

2 Addition - It's a project termination process when successful project is integrated into external (parent) organization. The main reason to do that is to continue successful project by creating new division/structure

3 Integration - this type of project termination is used when successful project is integrated in to larger projects or becoming part of the organization's ongoing operations

4 Starvation - Many would say that closing project by starvation is not really a project termination. Usually organizations using this method because they don't want to accept failure and by decreasing budget slowly killing unsuccessful project.

When closing a project 9 steps should be followed:

1. All accounting or finance issues should be resolved

2. Ensure all work is completed and signed of

3. Project should be cleared in legal

4. Client should be notified and outstanding works completed

5. Oversee the closing of the project's books

6. Clear for final billings and oversee preparation of the final invoices are sent to the client

7. Decide for records should be kept

8. Ascertain any product support requirement, decide how each support will be delivered

9. Document lessons learned to be used in the future

Closing a project is not easy decision but sometimes is the best course of action. The main thing is to make a decision before somebody else will make it for you. Whatever project was successful or not. Performance feedback should be given to all individuals involved so everybody can learn and use the knowledge they gain in the future. Recommendations can be suggested to future projects based on the outcome of current project.

Few suggestions to address in final report:

• Project performance

• Administrational performance

• Organisational structure

• Project and administrative teams

• Techniques of project management