A brief on project closing and its methods

1. Project closing and
methods of closing
- BARATH KUMAR B (1ST YEAR MBA)

2. Project closing
 A project is temporary, so it has a beginning and also an end.
 Every process group has a particular objective. After the objectives of the
project are met, it eventually comes to an end.
 During the last phase of the project life cycle, meaning the project closure,
everything should be detailed in order to measure if the project went as
planned and if the outcome is done as required by the customer.
 The steps in project closing are discussed below.

3. Project closing
Sometimes a project is terminated due to other reasons as well:
The main reasons in terminating the project are:
 Expensive or does not meet company’s goal
 Constantly changing market needs
 Unanticipated loss of human, funding and other valuable resources Project
gets out of control
 Damage and Disaster Recovery
 Important or priority project comes up
 Failure in testing process

4. Steps in project closing
1st step:
Confirm work is done as per the requirements
 Once the project is closing, all deliverables of the project must have been
completed and delivered to the customer.
 We must also take formal acceptance of the customer for the completed
work

5. Steps in project closing cont..
2nd step:
Complete procurement closure
 Since the project is closing, we must complete any remaining payments
that need to be made to the suppliers or partners

6. Steps in project closing cont..
3rd step:
Gain formal acceptance
 Formal acceptance of the project and project deliverables are taken from
the customer. Usually, the customer presents a written document, it can be
an email or a signed off document, which states that the project has been
completed and they accept the outputs of the project
 If there is any changes to be done in the project the customer tells the
project manager and necessary changes are made at this step

7. 4th step:
Complete final performance reporting
 The final performance of the project is calculated and recorded. These
include cost performance, schedule performance, quality performance etc.
 For instance, whether the project has been completed under budget or if it
could not be completed, how much did the project exceeded the planned
budget?
Steps in project closing cont..

8. 5th step:
Hand-off completed project
 Once the project is completed, the project is handed over for the use of
the end customer.
 The handover may need a predetermined period of assistance or some
documents describing how to use or how to operate with the product – a
product manual
Steps in project closing cont..

9. 6th step:
Release the resources
 After the project is completed successfully, all assignments of the project
resources are closed.
 Both human and material resources are transferred to the next project and
the documents are closed.
Steps in project closing cont..

10. Methods in project closing
The methods in which a project can be closed are:
 Closing by extinction
 Closing by integration
 Closing by addition
 Closing by starvation

11. Closing by extinction

12. Closing by integration

13. Closing by addition

14. Closing by starvation

15. Thank you