Closing the Project [5 STEPS TO PROJECT CLOSURE]

Summary

This video offers essential techniques for effectively closing out a project, highlighting the importance of satisfying project goals, officially declaring closure, and celebrating accomplishments. Viewers are guided through conducting after-action reviews to learn from the project experience, releasing resources appropriately, and archiving important documents for future reference. The speaker emphasizes the psychological aspects of project completion and invites viewers to download a checklist on why projects fail, encouraging them to reflect on their own closure experiences.

Takeaways

• 😀 Ensure all project goals are met before closing out.
• 😀 Officially declare the project's closure to all stakeholders.
• 😀 Celebrate the project completion to provide psychological closure.
• 😀 Conduct an After Action Review (AAR) to assess project performance.
• 😀 Release resources and officially close out contracts post-project.
• 😀 Archive all project documents for future reference and audits.
• 😀 Focus on the scope statement and deliverables throughout the project.
• 😀 Maintain communication with sponsors and key stakeholders during closure.
• 😀 Learn from each project to avoid repeating mistakes in future projects.
• 😀 Utilize a checklist to identify potential reasons for project failure.

Q & A

What is the first step in closing out a project?

The first step is to ensure that all project goals are satisfied, focusing on the scope statement and confirming that the deliverables have been achieved.

Why is it important to officially declare the project as closed?

Officially declaring the project closed is crucial for clear communication with all stakeholders, helping to manage expectations and avoid confusion about the project's status.

What are some effective ways to communicate project closure?

Effective ways include sending an email blast to all key stakeholders and formally closing any contracts related to the project.

What is the significance of a project celebration?

A project celebration provides psychological closure for the team, acknowledging their hard work and fostering a sense of accomplishment.

What is an After Action Review (AAR), and why is it important?

An After Action Review (AAR) is a project review process that examines what went well and what did not. It is important for learning lessons and improving future projects.

How should resources be managed during project closure?

During project closure, it’s essential to officially release team members while retaining a smaller group for any remaining observation and follow-up tasks.

What should be done with contracts at the end of a project?

All contracts should be closed out, ensuring that suppliers are paid and that there is sign-off on their work.

Why is archiving project documents important?

Archiving project documents is vital for future reference, audits, and continuous improvement, allowing easy access to project information when needed.

What is a best practice for document management during project closure?

A best practice is to keep only the final version of each document, avoiding clutter from multiple copies, and ensuring that both physical and electronic documents are properly archived.

What additional resource is offered at the end of the video?

The video offers a checklist on why projects fail, which can help prevent issues throughout the project lifecycle.