Close Project
DE: Projekt abschliessen
The process of finalizing all activities to formally complete the project.
Detailed Explanation
Close Project completes all activities across all process groups to formally finish the project. It ensures all work is done, deliverables are accepted, contracts are closed, and knowledge is captured.
Key activities: formal deliverable acceptance, financial reconciliation, resource release, document archiving, final lessons learned session, and project closure report.
Closing is the most neglected phase — teams rush to the next project. Proper closure captures institutional knowledge, confirms stakeholder satisfaction, and continuously improves the organization's PM capability.
Key Points
- Formal acceptance of all deliverables
- Financial closure and final accounting
- Resource release to the organization
- Lessons learned documentation
- Archive project records
- Administrative and contract closure
Practical Example
After completing a mobile app project, the PM conducts a final review. The client signs off on all deliverables. The team documents 15 lessons learned. Financial reconciliation shows 5% under budget. All documentation is archived in the PMO repository.
Tips for Learning and Applying
Schedule closure activities from the start
Conduct lessons learned while experience is fresh
Celebrate team achievements — it matters for morale
Formally close all vendor contracts
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