Effective Project Closeout Strategies and Best Practices
Learn about different types of project termination, steps for formal project closeout, reasons for early project termination, and components of a final project report. Explore key elements of project closeout management, lessons learned meetings, and the importance of putting all project aspects to bed.
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Presentation Transcript
Project Management Project Closeout and Termination Topic 13
LEARNING OUTCOMES After completing this chapter, you should be able to: 1. Distinguish among the four main forms of project termination. 2. Recognize the seven key steps in formal project closeout. 3. Understand key reasons for early termination of projects. 4. Know the challenges and components of a final project report.
Outline 1. Types of Project Termination 2. Project Termination Process 3. Early Termination for Projects 4. Preparing the Final Project Report
TYPES OF PROJECT TERMINATION TYPES OF PROJECT TERMINATION
The Four Main Reasons For Project Termination Extinction Addition Integration Starvation
NATURAL TERMINATION NATURAL TERMINATION PROCESS PROCESS THE CLOSEOUT THE CLOSEOUT
Elements of Project Closeout Management Harvesting the Benefits Gaining Acceptance for the Handing Over the Finishing The Work Product Reviewing How It All Went Product Putting it All to Bed Disbanding the Team
Lessons Learned Meetings Common Errors Misidentifying systematic errors Misinterpreting lessons based on events Failure to pass along conclusions Meeting Guidelines Establish clear rules of behavior Describe objectively what occurred Fix the problem, not the blame
Putting It All To Bed Closeout Paperwork : Documentation Legal Cost Personnel
EARLY TERMINATION FOR PROJECTS EARLY TERMINATION FOR PROJECTS
Project Factors to Review 1. Static 2. Task-team 3. Sponsorship 4. Economics 5. Environment 6. User
Making The Early Termination Decision Early Termination Decision Rules Costs exceed business benefits Failure to meet strategic fit criteria Deadlines continue to be missed Technology evolves beyond the project s scope
Shutting Down The Project Project Termination Issues Project Termination Issues Emotional Intellectual Staff Client Internal External
Allowing For Claims And Disputes Two types of claims Ex-gratia claims Default by the project company Resolved by Arbitration Binding Non-binding Standard litigation
PREPARING THE FINAL PROJECT REPORT PREPARING THE FINAL PROJECT REPORT
Final Report Elements Project performance Administrative performance Organizational structure Team performance Project management techniques Benefits to the organization and customer
Reference Jeffrey Pinto, 2021, Project Management Achieving Competitive Advantage, Fifth Edition, Pearson Education Limited, United Kingdom, ISBN 978-1-292-26914-6.Chapter 14
