The Project Closure Report is created to accomplish the following:Review and validate the milestones and success of the projectLessons learnt from the previous failed projectConfirm outstanding issues, risks, and recommendationsPlanning and decision-making about the project.

A project is a temporary endeavour, so it has a beginning and also an end. We have seen thephases of the project life cycle, called the ‘project management process groups’. Every process group has a particular objective. But what is the aim of the project closure? Doesn’t the project end after finishing the work and handing out the outcome? Of course no. During the last phase of the project life cycle, meaning the project closure, everything should be detailed to measure if the project went as planned and if the outcome is done as required by the customer. We are going to define the important steps for a successful closing phase. What is the objective? Project closure activities ensure the recording project documents, archiving in organizational process assets, making final payments, releasing resources and completing the project. Every project teaches lessons to the organization whether it’s a successor is a failure. So even after a project finishes, the documentation of this project is going to help complete the coming projects successfully. Project Closure Step #1: Confirm work is done as per the requirements Once the project is closing, all deliverables of the project must have been completed and delivered to the customer. You should also take formal acceptance of the customer for the completed work. Project Closure Step #2: Complete procurement closure Since the project is closing, you should complete any remaining payments that need to be made to the suppliers or partners. The procurement steps are also completed. Project Closure Step #3: Gain formal acceptance Formal acceptance of the project and project deliverables are taken from the customer. Usually, the customer presents a written document, it can be an email or a signed off document, which states that the project has been completed and they accept the outputs of the project. Project Closure Step #4: Complete final performance reporting The final performance of the project is calculated and recorded. These include cost performance, schedule performance, quality performance etc. For instance, whether the project has been completed under budget or if it could not be completed, how much did the project exceeded the planned budget? Project Closure Step #5: Index and archive records Collected documents are finalized. Final versions of the project management plans and all necessary documents about the project are archived in the company records. Project Closure Step #6: Update lessons learned Lessons learned are collected and gathered from all stakeholders. Lessons learned documentation is stored in the organizational process assets of the company. Step #7: Hand-off completed product Once the project is completed, the product of the project is handed over for the use of the end customer. The handover may need a predetermined period of assistance or some documents describing how to use or how to operate with the product. Step #8: Release the resources After the project is completed successfully, all assignments of the project resources are closed, lessons learned inputs from the project resources are collected and then these resources are released respectively. As you see, the project closure is also as important as the other phases, so you must consider these activities for better outcomes in your next projects

What is the purpose of a project status report?It identifies the requirements for the quality of the deliverables and the team's process for meeting the requirements.It keeps stakeholders informed of progress, including work that is completed, work to be completed, a summary of the project budget and schedule, and any issues or risks that are being addressed.It ensures all proposed changes are from authorized people and assessed for impact to the schedule and cost.It sets the objectives and agenda in advance to plan for what the meeting will accomplish

What project closeout report section explains what went well and what went wrong during the project?1 pointResources and project archivesKey accomplishmentsNext stepsLessons learned

What items can a project manager include in a project closeout report? Select all that apply.1 pointConfidential or proprietary informationAll future projectsProject timelinesNext steps and future considerations

Which of the following activities are not the part of Project closureDetails of the team members who worked on ProjectComplete procurement closureCost ControlIndex and archive records