In the project management lifecycle, the closing phase can be the most difficult
ID: 386250 • Letter: I
Question
In the project management lifecycle, the closing phase can be the most difficult since there is a tendency to look for cost reductions, or people are redirected to work on another project. Closing a project that is coming to completion or deciding to terminate a failing project early can lead to inefficiencies. The project manager’s goal in all cases should be to minimize wasted effort or loss of time and ensure successful closure of the project.
Based on research using credible project management websites (such as PMI.org), current scholarly resources from the CSU-Global library, and the reading material in the course, do the following:
Describe the different methods for closing or terminating a project.
Describe and evaluate some of the best practices companies should use for ending a project based on examples you found in your research.
Describe what can make closing a project difficult and make recommendations as to what can be done to mitigate those difficulties.
Explanation / Answer
Different Methods for closing or terminating a project
1. Getting Clients Acceptance
2. Installing Project deliverables
3. Archiving old deliverables
4.Documenting the project into reports
5.Performing a financial closure
6. Performing post-impementation Audit
7. Releasing Staff
Best Practices companies should use for ending a project
Challenges in closing a project
1. Lack of a proper hand over or transition of the project deliverables to business as usual (or operations).
2. Project management team fails to adhere to the scope of work and delays the project.
3. Incomplete payment from the parent company leading to halt in third party services, allied support services, management and handover
4. Improper Project Closing and Timelines.
Recommendations
Project closure must be initaited at every phases of the project. Each phases must include closure meetings, documentation, asset handover, budgeting, payment cleareance, etc. It will help in drawing out realistic roah map for the future milestones. Thus, project will be completed efficiently.
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