Contract closure is different from project closure in that contract closure:
“Close Project or Phase is the process of finalizing all activities for the project, phase, or contract. Show
The key benefits of this process are the project or phase information is archived, the planned work is completed, and organizational team resources are released to pursue new endeavors. This process is performed once or at predefined points in the project. The inputs, tools and techniques, and outputs of the process are depicted in Figure 4-14” (PMBoK Guide p121). Closing a project is not like switching a computer off. There is still a lot to be done, and a lot that can go wrong. The Close Project or Phase process is another one where the Project Manager takes center stage and will be checking that that all project work is completed and that the project has met its objectives, including work and objectives that were added along the way as the result of approved change requests. Just a reminder here that the type of “phase” mentioned here is a mini-project inside the main project. The activities necessary for the administrative closure of the project or phase include:
We are examining the activities necessary for administrative closure of a project phase. These would also include:
CLOSE PROJECT OR PHASE: INPUTS
CLOSE PROJECT OR PHASE: TOOLS AND TECHNIQUES
CLOSE PROJECT OR PHASE: OUTPUTS
That brings us to the end of the Close Project or Phase. And it’s also the end of the Project Initiation Management module The next module is “Project Scope Management” Please read the corresponding chapter in the PMBoK Guide before watching the video. Popular Instructor-Led TrainingScrumMaster Certification PMP Class PMI ACP Certification Six Sigma Yellow Belt Certification Online Six Sigma Green Belt CertificationPopular Instructor-Led Training in CitiesPMP Boot Camp Toronto PMP Certification Portland PMP Certification Zurich PMP Certification Raleigh PMP Training LagosRelated TopicsPMP HomeWhat is PMP? Benefits of PMP Certification Get PMP Certified Eligibility criteria for PMP exam PMI Membership Benefits How to Prepare for PMP Exam Cost of PMP Certification PMP Exam Fee PMP Exam Questions Type of questions you can expect in the PMP exam How to Practice for the PMP Exam Applying for the PMP Exam Day of Exam Maintaining your PMP Certification PMI PDUs - Under new PMP Talent Triangle® How to Claim PDU’s Career Opportunities for PMP Certified Professionals About the PMP ® Credential Introduction to Project ManagementBasic Concepts of Project Management Project Lifecycle and Tailoring Project Business Documents The Project EnvironmentOrganizational Structure Other Influences on Project Management The PMO Role of the Project ManagerProject Manager Role and Sphere of Influence PMI Talent Triangle The PM as an Integrator Integration ManagementIntegration Management Overview Project Charter Project Charter-Business Case Project Charter-Project Selection Constraints and Assumptions Project Statement of Work (SOW) Develop Project Management Plans Project Documents Monitor and Control Project Work Perform Integrated Change Control Managing Project Knowledge Closing a Project or Phase Scope ManagementBalancing Stakeholder Requirements Scope Management Overview Scope Management Plan Scope Management Process Project Scope Statement Schedule ManagementSchedule Management Overview Schedule Management Plan Introduction on Estimation Schedule Network Analysis Sequencing Activities Cost ManagementCost Management Overview Earned Value Measurement How is estimation done? Quality ManagementQuality Management Overview Manage and Control Quality Cost-Benefit Analysis Resource ManagementResource Management Overview Resource Management Plan Team Building Powers of Project Manager Control Resources Communication ManagementCommunication Management Overview Communication Management Plan Manage and Monitor Communications Plan Communications Risk MangementRisk Management Overview Risk Management Plan Risk Identification and Analysis Plan Risk Responses Implement and Monitor Risks Procurement ManagementProcurement Management Overview Procurement Management Process Procurement Statement Of Work Noncompetitive Forms Of Procurement What is a Contract? Control Procurements Close Procurements What is contract closure in project management?Contract closure is concerned with completing and settling the terms of the contracts let for the project. It supports the project completion process because the contract closure process determines if the work described in the contracts was completed accurately and satisfactorily.
What happens during a project closing?The closing phase of project management is the final phase of the project lifecycle. This is the stage where all deliverables are finalized and formally transferred, and all documentation is signed off, approved, and archived.
What does it mean to close a project?The purpose of the closing phase in the project management lifecycle is to confirm completion of project deliverables to the satisfaction of the project sponsor, and to communicate final project disposition and status to all participants and stakeholders.
What are the steps in project closure?Steps to Closing a Project. Arrange a Post Mortem. Managing a project isn't only about tasks and resources, budget and deadlines, it's an experience you can constantly learn from. ... . Complete Paperwork. As noted, projects generate reams of documents. ... . Release Resources. ... . Archive Documents. ... . Celebrate Success.. |