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Closing The Project

The closing stage of a project involves creating a final report, closing budgets, and completing activities. Key steps include performing final testing to ensure stability, wrapping up loose ends by reviewing tasks and developing strategies to address unfinished work, and completing administrative tasks like updating paperwork, terminating contracts, and providing a final budget figure. The final report updates stakeholders on accomplishments, performance versus objectives, successes and failures, and plans for unfinished work both in and outside the project scope.

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Tharun Burra
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24 views

Closing The Project

The closing stage of a project involves creating a final report, closing budgets, and completing activities. Key steps include performing final testing to ensure stability, wrapping up loose ends by reviewing tasks and developing strategies to address unfinished work, and completing administrative tasks like updating paperwork, terminating contracts, and providing a final budget figure. The final report updates stakeholders on accomplishments, performance versus objectives, successes and failures, and plans for unfinished work both in and outside the project scope.

Uploaded by

Tharun Burra
Copyright
© © All Rights Reserved
Available Formats
Download as ODT, PDF, TXT or read online on Scribd
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Closing the Project

The closure stage is the last phase of a project, during which a final report is created, the budgets

are closed, and the activities associated with it are completed. Each project has a conclusion at

which the objectives are met, and the outcomes are distributed to the stakeholders. Certain steps

must be taken for a project to be closed

Perform final test.

The teams releasing new products or features will find this initial stage to be particularly helpful.

Doing a final test to ensure your final output is stable and still operating as intended before, you

formally conclude work on your project. This is crucial since performance frequently shifts after

it launches, especially if your product was made available to a sizable consumer base. It's

frequently challenging to foresee how a product will perform at a scale before it is released. In

addition to doing technical testing, you should keep an eye on user reviews, particularly those

posted on your social media platforms, to determine whether there are any obvious product

flaws. If you run into any significant problems, make a follow-up project to address them.

Wrap up loose ends.

Reviewing the project plan and making unfinished tasks are the next steps. This assists tying up

any loose ends and makes sure that no important actions are overlooked. Consider any

unfinished work and determine if it falls inside or beyond the purview of the project. Develop a

strategy for dealing with such unfinished jobs if they fall within the scope. Inform stakeholders if

they fall outside of the scope and assign such duties to the right group and ensure that critical

steps are not left behind.

Complete administrative tasks.


After tying up any loose ends, next come the administrative aspects of your project. While

administrative aspects of the project might differ from project to project, the following are some

typical items to consider. The paperwork for the project budget, project timeline, and the

documentation process should be updated. Compare the projected and actual outcomes for your

budget and project schedule, for instance. Ensure all that project paperwork, including any

agreements or contracts with vendors, is signed.

Contracts with suppliers, subcontractors, funders, or other such external stakeholders should be

terminated and finish up the project's financing. As soon as the final payments are made or

transmitted, provide and update the finance team with the final budget figure. Verify that team

members have received new project assignments. Equipment and other project resources may be

sold or transferred as needed to various teams. Next, inform the staff in writing about the wrap-

up strategy and inform them of the next actions, including how to intend to handle or transfer

ownership of any unfinished project deliverables.

Update stakeholders and send a final report.

Syncing with the stake holders comes next after communicating with the team. Both a formal wrap-up

meeting and an asynchronous update are options for this. A description of the project's accomplishments,

performance relative to the objectives that were set, and any significant successes or failures should be

included in the final report. A list of the unfinished tasks that were within scope, along with the plan of

attack. The list of unfinished tasks that were outside of the purview, along with a brief justification and

information on how you will follow-up with relevant team. And the list of fast follows that you want to

finish in the current project or assign to another team. An enquiry for opinions is best done through

written feedback in the form of a survey or questionnaire.

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