The projects in the organization are very important and are a niche for getting profits. Other departments may be enabler functions or supporting functions; however, the project execution is the department that is directly related to the success and profit of the organization. The project manager has a higher role and responsibility to make the projects a success. One must remember the competition and pressure that the project manager undergoes to get the products faster to the market, less time to market, less cost, higher quality, solve the issues in each phase of products or services development, and to make higher profits. Prince2 is the certification that helps the project managers with the knowledge of how to control and manage the projects for success.
The project from the project starting stage to the closure stage requires quite a lot of documentation namely Product Initiation Document (PID), Project Plan, Risk register, lessons learned doc, exception report and issue logs, etc. These are the deliverables from various stages of the project not necessarily to the customer but for the team and the management of the organization. The project closure stage is an important stage where the project is closed officially and the product is handed over to the operation teams to operate and monitor or to the customer directly. The Project checklist consists of the following,
A project closure framework is a framework or the process that takes place when the project reaches the project closure stages. There are 5 key parameters, they are as follows,
1) The handing over – This consists of 2 stages, they are
2) Project Review Process – This consists of 4 types they are,
a. Project Review – This indicates whether the projects have met the goals and objectives
b. Performance Review Report – To evaluate the performance of every team member.
c. Lessons learned review – The lessons learned must be documented for future projects
d. Post-Project Review – This talk about the profits and benefits realized after the project is closed.
3) Administration of the Project –You may be required to transfer the project to the operations team for maintenance and sustenance.
4) Celebration – Here the benefits of the projects are realized by the team members and the management. There are 4 motivators they are reward, respect, recognition, and relationship.
5) Formal Project Closure –The sign off from the stakeholders is obtained by formally closing the project. They may be project sponsors, bosses, clients, and project boards.
It may seem an unimportant step in the projects, but the right project closure provides you the following benefits.
There are 5 tasks of closing the project they are,
1) Preparing for planned closure –This task is about the project that has produced the products or services, has been delivered and accepted.
The project manager does the following,
2) Prepare for premature closure – This task is done instead of the first one as the project might have not met the budget, the acceptance criteria, the quality, the risk factors, and many other things.
3) Handing over the products – Here the products are handed over to the operations and maintenance teams or the clients. The following things are done here,
4) Evaluation of the project – Review the baseline documents such as PID and Project Plan
5) Recommending for the project closure – The following actions by the Project Manager takes place.
As we have seen the project closure checklist, the project manager needs to work out a project closure strategy.
a.Deliverables – They must reach the hands of the operations team or the clients. A formal sign off is required.
c.Update the following documents – These documents are beneficial to the team and organization
i. Configuration Item Record
ii. Benefits management approach
iii. Lessons learned report
iv. End project report
d. Release – Release the resources
e. Finance – Complete and send the remaining invoices
Many companies prefer the prince2 certified professional than anyone without the certification. There are 7 principles in prince2 for the project management and out of that the last principle is about the closure of the project. We have discussed the project closure and its checklist that is needed for the higher performance of the projects to meet the expectation of the customer extensively in this article to give you a brief overview.
Project management is an art and you can register with StarAgile for prince2 certification to learn and excel in your career.
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