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What is Closing Process Group
May 16, 2008 | Author: PM Hut | Filed under: Contract Administration & Close-out, Project Closure, Project Management Definitions
What is Closing Process Group
By Sivaraj Dhanasekaran
We will start with simple term first, Closing process group means, offically closing the project by getting the formal approval, acceptance from the project sponsor and stakeholders. Secure and store all documents related to the project. Document the lessons learned, issues and store for future referrals. And it states that the project is ready to move to next phase which is usally the operational phase.
PMBOK 3 definition
Closing brings a formal, orderly end to the project phase or to the project itself. Once the project objectives have been met, the Closing process group starts, it is an important processes that collects all the project information and stored for future reference. Contract closeout occurs in this process group, and formal acceptance and approval are obtained from project stakeholders.
Objectives
The objectives of the Closing Project domain are as follows:
- Obtain Final Acceptance for the Project
- Obtain Financial, Legal, and Administrative Closure
- Release Project Resources
- Identify, Document, and Communicate Lessons Learned
- Create and Distribute Final Project Report
- Archive and Retain Project Records
- Measure Customer Satisfaction
Knowledge Areas & Processes
| Knowledge Area | Processes |
| Integration | Close Project |
| Procurement | Contract Closure |
Dhanasekaran, Sivaraj is a certified PMP and works as a Senior Project Manager in one of the leading MNC banks in Singapore. He has over 13 years IT experience and handled banking projects as well as managed production support team for complex Treasury applications for various MNC banks.
He loves to share his experience and knowledge gained as Project Manager and also providing guidance to people who wanted to obtain PMP certification. He runs a project management forum at www.sgpm.wordpress.com.
Related Articles
- Project Management Process - Phase 4 - Closing Overview
- Project Management Process - Phase 4 - Closing - Performance Recognition (Celebrate!)
- Project Management Process - Phase 4 - Closing - Release Project Team Members
- Project Management Process - Phase 4 - Closing - Archive Project Documents
- Project Management Process - Phase 4 - Closing - Conduct Project Closeup Meeting
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