The project closeout phase represents the completed project. Final deliverables are handed over at this time, vendors who were hired for project-specific work are terminated, and valuable team members are recognized.
Learn more about the project closeout process, factors involved, and a simple tool to help you collect, track, and manage all the closeout details.
Project Closeout and Retrospect
Once the project is finished, the project manager still has a few tasks to complete. Many project managers hold a meeting — often called the post-mortem or project retrospect — to evaluate what went well in a project and identify any project failures.
They need to create a project punch list including tasks that didn’t get accomplished during the project and work with stakeholders to resolve them. Additionally, project managers need to complete a final project budget and a project report and collect all project documents to store them in a single location for future reference.
Conducting a project retrospect is important to consider how well the project was initiated, planned, executed, and controlled. This is not necessarily to point out failures and successes, but rather to provide greater value through lessons learned. By documenting lessons learned, it allows an organization to record, maintain, and reuse insights on future projects.
Tip: A cloud-based work execution platform makes it easy to collect, manage, and save all project closeout documentation in a single location throughout the project lifecycle. Learn more about a simple project management software here.