PROJECT Management (Business) In general, the closing phase of any project encompasses all the ultimate and concluding processes and practices to finish out a project and provide final products and accounts to all stakeholders. Basically, this phase makes certain that all reports and deliverables are well-organized and delivered over to the pertinent units of business and stakeholders. In addition, this is the stage where any residual contractual commitments, disbursements and retailer assessments are undertaken. More so, any lessons and knowledge that have been attained in the course of the project have to be acknowledged and reported for the future periods (Westland, 2006).

James Hospital intends to initiate a project in which the organization plans to set up a clinic for regular patients who need checkups. The clinic will come in handy as it is purposed to free up the number of patients filled up, seeking checkup. In turn, this will free up the doctors in terms of being able to treat patients in critical conditions.

Description of Project

Activity Area Numerical Identifier

Closing Phase Activity Area

Brief Summary of actions that should have been taken in this area for this specific project

Estimated duration of time needed

Predecessor (Use Numerical Identifier)

1

Procurements

All of the different contracts with the hospital equipment, leased machines and spaces, and outsourced personnel were closed.

2 weeks

3

2

Quality

In this phase, the project team scrutinized and assessed the records of the deliveries made to determine whether they were the quality that had been initially set.

1 week

2

3

Contracts

The general undertaking was to complete and resolve the terms and agreements of the contracts that were set for the project.

2 weeks

4

4

Team member performance 0 reviews

The PMO examined and assessed performance notes reported over the period of performance and formed the content in accordance to supervision prescribed by the hospital.

5 days

5

Stakeholder communications

During the project closure stage, it was significant to inform them of the culmination of the project in order to perceive the outcome of their investments. It was more so important to inform them of the project closure so as to attain an approval of the end of the project.

4 days

6

Cost

All of the accounts were closed in the cost accounting system. It was vital to close the cost accounts as fast as possible once the work was complete. The final cost data in the project close out phase ought to be ascertained and recorded in the right accounting books. This can be beneficial for future references.

5 days

1

7

Lesson Learned

This encompassed all of the knowledge attained right from the start of the project to the closure phase. A review was piloted to get a hold of the lessons that could be attained and this was done during a lesson-learnt meeting.

Two days

5

Procurements

In this process, all of the procurements were closed. All of the different contracts with the hospital equipment, leased machines and spaces, and outsourced personnel were closed. This is because the contracts came to an end and therefore support the closure of the project. These procurement contracts were closed one at a time to ensure all of the terms and conditions indicated in the contract were met and both parties are content with the closure of the agreements. This ensured that all of the contractors that were contracted completed their specific tasks and duties; that their respective payments have been met and that they have left the site.

Quality

Quality is not an aspect that is taken into account during the execution stage of the project, but during the closure stage. One key aspect is that the contractors ought to provide commodities and goods that meet the standards of quality set by the organization. In this phase, the project team scrutinized and assessed the records of the deliveries made to determine whether they were the quality that had been initially set. In addition, this was important because it made it possible to adjust funds as well as indicate if any of the commodities had been rejected due to poor quality or failed to be delivered by the supplier (Cox, 2009).

In addition, the management of project quality is a practice that is of consistent improvement, which encompasses discerning from preceding projects and undertaking changes to enhance the quality level of the imminent projects. In this project closure phase, any quality management practices that were employed were documented...

This was to determine whether there was any need for improvement or change in the next projects. These official procedures for transforming work practices and incorporating the quality lessons learnt from the project are meant to be useful for the organization going forward (Cox, 2009).
Contracts

As the project comes to a closure, so do the contracts. There are a number of activities that were undertaken in this practice. To start with, the general undertaking was to complete and resolve the terms and agreements of the contracts that were set for the project. This process was significant as it gave a determination as to whether the project work was completed in an accurate and satisfactory manner. However, it is imperative to note that, in this undertaking, only the project programmes that were under a contract were being closed. This was applied to only those deliverables and portions that were contracted. In addition, during this time, all of the project records were updated, particularizing the ultimate results of the work on the project (Watt, 2015).

In addition, the contractors were given official notice, more so in a written form, whether the deliverables they provided were acceptable and satisfactory or whether they had been rejected. This was important because the contractors had to rectify and make corrections to any issues within the project's final products before they were issued with an official acceptance notice. What is more, any negligible items that required amendment or finishing were placed on a punch list. This is an itemization list of all the issues that were found by the PMO, but yet to be finished. Once the products of the project that were deemed acceptable and satisfactory to the predetermined standards, an official written notice to the contractor was handed, indicating that the official contract was complete. This was the formal recognition and closure of the contract (Watt, 2015).

Team member performance reviews

The team member performance reviews was undertaken by the project management officer (PMO) in partnership with the project managers and the human resource department. The PMO examined and assessed performance notes reported over the period of performance and formed the content in accordance to supervision prescribed by the hospital. In addition, the project manager specifically made arrangements with every individual project team member being assessed. This was purposed to evaluate the strengths and weaknesses of the team members. In addition, the PMO was also keen on pointing out the areas for performance improvement (Hill, 2014). One other vital aspect in this process is that the PMO, together with the individual team members had to sign the performance review documents in recognition of a common understanding of every performance evaluation and assessment of the project team member. Lastly, these signed documents were communicated to other parties who were participating in the performance management of every project team member (Hill, 2014).

Stakeholder communications

To begin with, stakeholder communications is vital to the success of any project. These are the parties that may be impacted in the event of the failure or success of the project. During the project closure stage, it was significant to inform them of the culmination of the project in order to perceive the outcome of their investments. It was more so important to inform them of the project closure so as to attain an approval of the end of the project. For instance, the project cannot be completely terminated if the objectives have not been met and all the set as well as predetermined preferences have not yet been satisfied. Stakeholder communications, at this stage, is to settle any issue regarding scope. All of the stakeholders were informed of the practices undertaken till that time, and the desire to close the project as the set goals have been completed. It is also the time to communicate to the stakeholders any issues, such as lack of funds to pay out contracts and any predetermined agreements.

Cost

All of the accounts were closed in the cost accounting system. However, prior to this closure, one important aspect was done to make sure that all of the charges made to the cost accounts were in completion. For instance, this was to ensure that there weren't any unsettled charges or invoices. In addition, it was imperative to ascertain that all of the costs incurred during the course of the project were recorded in their proper accounts. It was vital to close the cost accounts as fast as possible once the work was complete. Subsequent to the closure of the accounts, the capital expenses were recorded in the asset ledger for any depreciation expenses to be taken into account. More specifically, it was important to make sure that these costs were apportioned to the fitting asset account and at the right time. The final cost data in the project close…