Components of a Project Charter

The closing process group provides a set of processes for formally accepting the project's product, service, or end result so that the project or phase can be brought to an orderly close. The project manager or team must verify that all deliverables have been satisfactorily completed before the project sponsor accepts a phase's deliverable or the project's end product. Closure of a project may include processes for contract closure and administrative closure. Contract closure ensures that all of the deliverables and agreed upon terms of the project have been completed and delivered so that the project can end. It allows resources to be reassigned and settlement or payment of any account. Administrative closure, on the other hand, involves documenting and archiving all project documents. It also includes processes for evaluating the project in terms of whether it achieved its MOV. Lessons learned should be documented and made available to other teams. Although each phase must include closing processes, the major emphasis on closing processes will occur during the close project and evaluate project success phases of the IT project methodology.