Execution Tools for Closing of Projects

16/12/2021 0 By indiafreenotes

Project Closure is overlooked during the project. To many, successful project delivery is defined by the completion of deliverables as per the objectives of time and cost. Many practitioners consider the process of project closing as an overburden, a process that has minimal significance and scope, and also believe it is only done to satisfy organizational requirements. But, many practitioners don’t realize that the “Closing a Project” Process is as impactful and significant as the initiation, planning, executing, and monitoring, and controlling processes.

Project Closing is the combination of the following aspects when applied to a project:

  • Assuring that all the work has been completed,
  • Ensuring that all agreed project management processes have been executed,
  • Formally recognizing that the project is completed upon everyone’s approval.

Steps to Closing a Project

The close of the project is the final phase of your job, it’s the last turn of the project life cycle, and like any other aspect of a project, it requires a process. The following are five steps you should take to make sure you’ve dotted all the I’s and crossed all the T’s, as well as taken full advantage of the experience.

  1. Arrange a Post Mortem

Managing a project isn’t only about tasks and resources, budget and deadlines, it’s an experience you can constantly learn from. While you should have been learning throughout the project, now is a great time to look back without the pressure and distractions that might have dulled your focus.

Gather the core team to invite feedback about what worked, and what didn’t. Encourage honesty. By documenting the mistakes and the successes of the project, you’re building a catalog that offers historic data. You can go back and look over the information for precedents when planning for new projects.

Projects are never standalone things, but part of a continuum, where the specifics might vary, but the general methods usually remain the same. There’s a wealth of knowledge produced after any project closes.

  1. Complete Paperwork

As noted, projects generate reams of documents. These documents are going to have to get sign off and approval from stakeholders. Everything needs attention and must be signed for, which is the legal proof that in fact these documents have concluded. That includes closing all contracts you might have made with internal partners or vendors or any other resources you contracted with.

This includes addressing all outstanding payments. You want to make sure that all invoices, commissions, fees, bonus, what have you, are paid. Complete all the costs involved with the project. It’s not done if it’s not paid for.

Project management software can help you organize all these documents. ProjectManager acts like a hub for all your project files. You can track them on our list view, which is more than the usual to-do list app. For one thing, you can see the percentage complete for each item on the list.

  1. Release Resources

You assemble a team for the project, and now you must cut them loose. It’s a formal process, and a crucial one, which frees them for the next project. Each team is brought together for the mix of skills and experience they bring to a project. The project determines the team members you’ll want to work with, and each project is going to be a little bit different, which will be reflected in the team hired to execute it.

This is true for internal as well as external resources. The external ones might be more obvious, as you contracted with them, and that contract is going to have a duration. When it’s over, make sure they’re all paid in full so they can sign off and leave. But internal resources remain, so you have to remind yourself that their time on the project is also limited, and you might be blocking other team’s projects if you don’t release your resources once the project is done.

  1. Archive Documents

There are lessons to be learned from old projects, which is why you meet with your team regularly during the project and look back on the process afterwards. However, if you don’t have an archive in which to pull the old records, then whatever knowledge you gain is lost because of poor organization and management. You worked hard to have great project documentation, don’t lose it.

Before you close a project, archive all the documents and any notes and data that could prove useful. Even if you never access it, there’s a need to keep a paper trail of the work done on any project for other people in the organization. This might include legal teams, or HR teams, or even your successor. You never know when someone might have to go back and respond to a question or want to learn how an old issue was resolved. Consider it like putting away provisions for the winter.

  1. Celebrate Success

If it sounds silly to you, then you’re not doing your job. There’s nothing silly about rewarding your team to acknowledge a job well done. It creates closure, which is what this part of the project is all about, but it also plants a seed that will bloom in later projects when you work with members of the old team.

That’s because when you note a job well done you’re building morale. It makes team members feel better. You might have been a hard taskmaster in the project, but you give them their due for a job well done. That creates loyalty, and they’re going to work even harder for you the next time. And there will be the next time, because a happy team is a team that you retain. Why would you want to close a project and lose the very resources that made it a success? Loosen up!

Project Closure Checklist

To make sure that every i is dotted and t crossed, follow this step-by-step project closure checklist.

  • Start at the beginning with the project scope document you created and make sure that you’ve met all the requirements listed there.
  • Make sure that all deliverables have been handed off and signed by stakeholders, getting their approval and satisfaction. Keeping track of all those deliverables can be confusing unless you’re using project management software. Project Manager has a board view that gives you transparency into the process so you can see that everything has been handed off. Customizable columns allow you to add sign-off as a step to make sure stakeholders have approved the deliverable.
  • Other project documents must also be signed by the appropriate person, this includes any outstanding contracts and agreements with vendors and other contractors.
  • Once documents are signed off on, then process them and pay off all invoices and close out any project-related contracts.
  • Add all documents together, including finalizing all project reports, then organize and archive them as historical data to be used for future reference.
  • Use collected paperwork to identify and document the lessons learned over the course of the project, including any feedback from stakeholders, so you don’t make the same mistakes in future projects.
  • Assign a transition support person to shepherd the project after completion so that the project closure is thorough.
  • Release or reassign the project resources, which includes your team and other project personnel and any equipment or site rentals used for the project.
  • If you’ve not used a project management software, get one, as it helps control not only the life cycle of the project but also the process of closing the project thoroughly.
  • Finally, but perhaps most importantly, celebrate with your project team. They did the work and deserve credit and an opportunity to blow off steam until the next project is started.

Importance of Project Closing Process

If a project is not closed correctly, the project management team along with their efforts, time, and credibility may be negatively perceived for matters that are not their fault or responsibility. Hence, just as Initiation, Planning, Execution, Monitoring, and Controlling processes, Project closing serves an essential purpose for the organization and helps it avoid unfavorable and adverse scenarios.