Closure of Projects and Evaluation
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ScribdTranslationsClosure of Projects and Evaluation
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ScribdTranslationsPROJECT CLOSURE AND
EVALUATION
Project closure
The closure of a project is the culmination of the project process, and the moment
to balance it. During the closing, it is noticeable how well or poorly
it has ended and, in particular, if the objectives (benefits) have been achieved
foreseen.
What is the closing stage?
The closure of a project is the final phase within the management process.
a project. This happens with the intention of obtaining future opportunities of
growth and improvements that encompass all areas, the stages involved in
the project and the human resources that have worked on it.
What is the completion of work?
What is the closure of works? It is the final phase of the construction process and of the
consummation of the contract for the work, which is made up of four stages
fundamentals of which are: The completion of the work. The delivery of the work.
Ex post evaluation. Accounting, administrative, financial, and technical closure.
What is a project closure report?
The Project Management Institute (PMI) defines the process of 'Closing Projects'
"Phase", such as completing all activities through all groups of
processes to complete the project or a phase of it, having as
result of the formal completion of the project work, authorizing the
closing documentation at each of its stages.
How to deliver a project?
6 steps to outline your project delivery schedule
Define the scope of the work.
2. Create your work breakdown structure (WBS)
3. Make a list of your tasks.
4. Identify the dependencies between the tasks.
5. Estimate the time needed for the tasks.
6. Design your Gantt chart.
What is the acquisition closing?
Closing the acquisitions is to verify that the goods and services delivered by the
vendors comply with the terms. It is also known as external closing. In
In this process, the deliverables are verified with the client and the agreements are finalized.
signed legal documents.
What things are more important when working on a project?
The 4 factors that most influence the success of a project
Clarity in the definition of objectives.
Use of a methodology.
Precision in planning.
Participants' commitment.
How is the financial closure of a project done?
Financial closure is the management process by which a project achieves
compromising the sources of funding for funds that allow for covering the cost
of the comprehensive development of the complete project, becoming a crucial stage
necessary prior to the start of the execution of the projects.
How can a project be evaluated?
The evaluation of a project is the process of identifying, quantifying, and assessing the
costs and benefits generated from this, over a certain period of time.
Its objective is to determine whether the execution of the project is convenient for
who carries it out.
What is a project closure?
A project management specifically ends at the moment when
it reproduces the closure of the project in itself. This stage is of a character
transcendental for the project managed to be considered completed. This is
is carried out after the client's acceptance regarding compliance
of the objectives set and strategically planned, since the
beginning of the project scope definition in question.
Through this analysis, you will be able to learn about its general characteristics.
and specific, along with the importance that this final step has within the
project management and administration process.
How is a project closure defined?
The closure of a project consists of the final phase within the management process.
from a project. The concept of closure encompasses not only the completion of the
the totality of the project, but also those intermediate stages that integrate
the entire project. In this way, a coexistence between the closures prevails.
partials of each phase and the closure that culminates with the initiated project.
This stage is essential to conclude the project and to carry out the
corresponding and subsequent management control of it. This happens with the
intention to obtain future growth opportunities and improvements
they cover all areas, the stages involved in the project and the resources
humans who have worked on it.
What is the importance of conducting a project closure?
The completion of a closure, in the project that is being managed, is
fundamental to generate the culmination of the same and is conceived as
an action commitment. This is implemented by the team in charge.
of the project, for the clients who have requested the management service.
this way, this compromise involves the active and internal participants of
the organization that manages and the client that hires the provision of services.
In summary, the closing process has the following functions:
Certification and officialization of compliance and scope of the
proposed objectives at the beginning of the project. In order for that closure to
It is carried out correctly and safely; the client must give consent to it.
carried out through the acceptance of the project's evolution,
according to what was proposed and to your initial wishes, framed within the
legal parameter of the contract.
Release of responsibilities of the team members of the
project, since the completion of the commitments has occurred with
regarding the tasks provided.
It involves the completion of administrative closure and
economic of the acquired responsibilities. In this way, they
the contracts established with the participating suppliers are concluded
the financial balance and the economic profitability obtained is carried out
through the project.
Steps for closing a project
For a project to be considered completed, the following must be met
steps:
Acceptance by the client: external acceptance must be achieved.
the activities inherent to the project carried out.
Termination of the contract: the billing of the project proceeds and its
consequent payment.
Conclusion of contracts with suppliers: they are terminated.
compromises made with the supplier area. They must be carried out
the corresponding billings and the payments
Exemption from the tasks of team members: they
produce the officialization of the release of personnel starting from the closure
of the project contract.
Economic and financial closure of the project: all invoices must
be paid.
Administrative closure: the accounting entry must be made for the
its execution is pertinent. Likewise, the balance is proceeded.
financial administrative of the project.
Project management control carried out: sometimes, it is not usual
to be carried out due to lack of time. Nevertheless, it is a step that benefits
radically the development of future project management, due to
the improvement opportunities that are detected from your analysis.
What is project closure?
What is project closure?
Why is it important to close the project?
Project closure by acceptance
Tools that can help you close a project
Reasons for closing an incomplete project
Process of closing an incomplete project
Do you want to learn more about this topic?
Formally, the project closure is the last of the phases that make up the
management process of it, and applies both to the project as a whole and to
each of the phases of its life cycle. In this way, if we have a project
that is executed in phases (for example: basic project, construction project,
purchases, execution, etc.), each of the phases must include its process of
acceptance and closure, tailored to your specific characteristics
Why is it important to close the project?
From a practical and formal point of view, the completion of a project means the
completion of all commitments, both with the organization itself and with
external people to her:
Certifies and formalizes that we have fulfilled the scope and commitments
in front of the client (which requires that before the closing has been
the acceptance has been made). This implies that we no longer have to do anything else
in relation to this project or request, and that any new request will be
processed as a new project.
Completely free the project team, including the project director.
that they can undertake new projects.
It assumes the administrative and financial closure of all commitments and
acquired rights by the project. This includes the closing of contracts with
suppliers and client, and the financial closing of the project within it
organization.
Project closure by acceptance
Like any process, the project closure is made up of a set of
steps that must be taken to say that this has been completed in its entirety.
The suggested steps and order in this article are a mix of the included theory.
in themethodologiesand my professional experience, so it may differ from what
it appears in the manuals:
