Project

Closure

By:Rajdeep Kaur Akruti Gupta Rajvinder Singh Avinash Kaur Paras Vyas

B-11 B-17 B-26 B-45 B-61

Steps to perform the closure of the project

1. 2. 3. 4. 5. 6. Do a Lessons Learned session. Reconcile the budget. Formally hand-over the product/service. Release resources. Close contracts. Prepare the project completion report.

1. Lesson Learned
What does it do?
identifies what worked and what didnt recommends ways to improve performance on future projects

Whos involved?
project team key stakeholders

Whats the benefit?

future projects benefit from documented lessons learned

What do I do?

What tools do they use?

Who can help me?

request the Project Office to conduct a lessons learned session provide contact information for project team members and key stakeholders

Lessons Learned Survey Project Look-back Agenda Lessons Learned Report Lessons Learned Management Report

Project Office

2. Budget Reconciliation
What does it do?
ensures budget tracking is complete provides the final reconciliation of estimated costs to actual costs

Whos involved?
project manager Business Office

Whats the benefit?

expended funds fully accounted for all project costs known provides information for estimating future projects of a similar nature

What do I do?
gather budget information from all budget sources: o PM2 for soft costs o invoices for contractor and hard-costs identify budget variances by comparing actual costs to estimated costs in the project charter and approved CRs analyze/document reason for variance(s)

What tools do I use?

Project Expense Tracking Template PM2 Budget Reports Project Completion Report

Who can help?

Project Office Business Office (budget information)

3. Formal Hand-over of Product or Service

What does it do?
operationalizes product or service

Whos involved?
project team operational support team(s)

Whats the benefit?

product or service is supported after the project is completed

What do I do?
ensure the appropriate documents are completed and approved

What tools do I use?

Release Checklist OPC Checklist

Who can help?

Project Office 3rd Party Support (GIS) OPC Team Change Management Team ITSM Program

4. Release Resources
What does it do?
lets project staff know their job is done lets managers know staff resources are available for other projects identifies release of any remaining funds held for the project recognizes positive job performance and identifies areas for improvement

Whos involved?
project manager project team managers of project team resources Business Office

Whats the benefit?

resources formally available for other projects project team effort is acknowledged

What do I do?
formally notify project team, managers, sponsors, Business Office of project completion close off contracts provide project team performance feedback

What tools do I use?

contract sign off documents email

Who can help me?

Project Office Business Office Supply Chain Management

5. Contract Closure
What does it do?
addresses terms of contract completion

Whos involved?
project manager project sponsor client / key stakeholders Business Office

Whats the benefit?

all contacts associated with the completed project are closed

What do I do?
reconcile contracted work to actual work completed identify any work not completed, identify reasons for non-completion and complete actions specified in the contract

What tools do I use?

approved contracts with vendors/service providers

Who can help?

Project Office Business Office Supply Chain Management

6. Project Completion Report

What does it do?
Identifies which objectives of the project were met and not met; documents reason(s) why an objective was not met identifies actual completion dates for key milestones identifies outstanding issues identifies budget and scope variances

Whos involved?
project manager project team key stakeholders

Whats the benefit?

clear understanding of what was and was not accomplished by the project outstanding issues, actions are identified and assigned or closed

What do I do?
gather information from PM2, budget reports (or project tracking sheet), contractors invoices, vendor invoices refer to project charter and project plan for completion dates and objectives, include information from approved change orders

What tools do I use?

PM2 Expense Tracking Sheet Contracts/Invoices Project Plan Sign-off Forms and Guidelines Change Requests Issue Logs Project Completion Report Template

Who can help me?

Project Office Business Office (budget information)

Conclusion . . .
Formal project closure ensures that your team has met its objectives, satisfied the customer, captured important knowledge, and been rewarded for their efforts. With the door closed securely behind you, you can move on to your next project with confidence.