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  4.6Close Project or Phase: Close project or phase is the process of nalizing all activities across all of the Project Management Process Groups to formally complete the project or phase. When closing the project, the project manager will review all prior information from the previous phase closures to ensure that all project work is complete an that the project has met its o!jectives. Inputs:a.Project Management Planb.Accepted Deliverables:   hose elivera!les that have !een accepte through the verify scope process. c.Organiational Process Assets:!ools and !echni ues:a.#$pert %udgment: #$pert jugment is applie when performing aministrative closure activities. hese e$perts ensure the project or phase closure is performe to the appropriate stanars. Outputs:a.&inal Product' (ervice or )esult transition:   his output refers to the transition of the nal prouct, service, or result that the project was authorize to prouce. b.Organiational Process Assets *pdates: ã Project %iles ã Project or phase closure ocuments ã &istorical information +,.4 Close Procurements Close Procurements is the process of completing each project procurement. 't supports the Close Project or Phase process, since it involves verication that all work an elivera!les were accepta!le.  he Close Procurements process also involves aministrative activities such as nalizing open claims, upating recors to re(ect nal results an archiving such information for future use. Close Procurements aresses each contract applica!le to the project or a project phase. 'n multi)phase projects, the term of a contract may only !e applica!le to a given phase of the project.#arly termination of a contract is a special case of procurement closure that can result from a mutual agreement of !oth parties, from the efault of one party, or for convenience of the !uyer if provie for in the contract. he rights an responsi!ilities of the parties in the event of an early termination are containe in a terminations clause of the contract. Inputs *  a. Project Management Plan b. Procurement Documentation   o close the contract, all procurement ocumentation is collecte, ine$e, an le. 'nformation on contract scheule, scope, +uality, an cost performance along with all contract change ocumentation, payment recors, an inspection results are cataloge. hisinformation can !e use for lessons learne information an as a !asis for evaluating contractors for future contracts. !ools and !echni ues a. Procurement Audits  procurement auit is a structure review of the procurement process srcinating from thePlan Procurements process through minister Procurements. he o!jective of a procurement auit is to ientify successes an failures that warrant recognition in the preparation or aministration of other procurement contracts on the project, or on other projects within the performing organization. b. -egotiated (ettlements 'n all procurement relationships the nal e+uita!le settlement of all outstaning issues, claims, an isputes !y negotiation is a primary goal. Whenever settlement cannot !e achieve through irect negotiation, some form of alternative ispute resolution -/0 incluing meiation or ar!itration may !e e$plore. When all else fails, litigation in the courts is the least esira!le option. c. )ecords Management (stemOutputs a. Closed Procurements   he !uyer, usually through its authorize procurement aministrator, provies the seller with formal written notice that the contract has !een complete. /e+uirements for formal procurement closure are usually ene in the terms an conitions of the contract an are inclue in the procurement management plan. b. Organiational Process Assets updates #lements of the organizational process assets that may !e upate inclue, !ut are not limite to1 / Procurement 0le.  complete set of ine$e contract ocumentation, incluing the close contract, is prepare for inclusion with the nal project les. / Deliverable acceptance.   he !uyer, usually through its authorize procurement aministrator, provies the seller with formal written notice that the elivera!les have !een accepte or rejecte. /e+uirements for formal elivera!le acceptance, an how to aress non)conforming elivera!les, are usually ene in the contract.2 1essons learned documentation. 3essons learne, what has !een e$perience, an process improvement recommenations shoul !e evelope for the project le to improve future procurements. 4
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