Here are some must haves to include on your Project Closeout checklist that will help ensure proper Project Management:
1. Close out all contracts – Make sure that all your vendors get their final invoice, all claims or issues have been resolved, and all necessary payments have been sent for owed invoiced.
2. Perform a post completion budget review – Were the estimates accurate? If not, then why? What factors led to overspending/underspending. What was the earned value compared to the planned value?
3. Document and Archive – The original project specs, statement of work, work breakdown structure, written communications, cointracts, change requests and logs, risk logs and any other important documents created throughout the life of the project should be well documented and organized for archiving. Archiving these documents allows for future use or reference.
4.Lessons Learned – Hold a post-mortem meeting with the project team to review what worked, what didn’t work, ideas on how to improve certain processes for next time.
Making sure that you properly close out a project after completion not only just ensures proper Project Management guidelines have been followed, but it also makes sure no loose ends are left untied and that all documentation and lessons learned are documented for future reference.
-Krystina Hodge, Consultant | Project Manager