Project Management Practitioner

Process Group     : Closing
Knowledge Area   : Integration Management
Process                : Project Closure

A type of project ending where the financial or human resources assigned to the project are diverted or reassigned elsewhere in the organization.

This would occur after the project ends or closure in the middle due project to discontinuity. However project closure is mandatory irespective of the reasons.

-Posted by Sundar

Refer Exam Tips 3 - Key terms for PMP Exam for more key terms

We will start with simple term first, Closing process group means, offically closing the project by getting the formal approval, acceptance from the project sponsor and stakeholders. Secure and store all documents related to the project. Document the lessons learned, issues and store for future referrals. And it states that the project is ready to move to next phase which is usally the operational phase.

PMBOK 3 definition

Closing brings a formal, orderly end to the project phase or to the project itself. Once the project objectives have been met, the Closing process group starts, it is an important processes that collects all the project information and stored for future reference. Contract closeout occurs in this process group, and formal acceptance and approval are obtained from project stakeholders.

Objectives

The objectives of the Closing Project domain are as follows:

1. Obtain Final Acceptance for the Project
2. Obtain Financial, Legal, and Administrative Closure
3. Release Project Resources
4. Identify, Document, and Communicate Lessons Learned
5. Create and Distribute Final Project Report
6. Archive and Retain Project Records
7. Measure Customer Satisfaction

Knowledge Areas & Processes

-Posted by Dhana