What is Project Closing?
According to the PMBOK® Guide – Fifth Edition, the Project Closing Process Group involves concluding all tasks across Project Management Process Groups to complete the project, phase, or contractual obligations officially. This process ensures the fulfillment of defined procedures in all Process Groups, verifying the closure of the project or phase. It formalizes the project’s completion, emphasizing the comprehensive nature of activities needed to meet objectives and contractual commitments.
In simpler terms, Project Closing involves three key elements when applied to a project:
- Ensuring that all tasks are finished.
- Confirming the execution of agreed-upon project management processes.
- Formally acknowledging the project’s completion with unanimous agreement.
Initially, these points may appear inherent or automatic in the final phase of a project.
What are the steps to close a project?
Many professionals underestimate the vital role of the project closing phase, viewing it as mere bureaucratic compliance. Yet, the Project Closing Process Group is as crucial as initiation and execution. Neglecting it risks exposing the organization to substantial hazards, hindering benefits realization, causing losses, and damaging the project team’s credibility.
Table of Content
- What is Project Closing?
- Why Is Project Closing Important?
- Steps Needed to Close a Project
- What is the Best Possible Manner to Close the Project?
- Conclusion