Project Closure and Lessons Learned Processes Business Essay (Essay Sample)

Project Closure and Lessons Learned Process
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Project management consists of five processes starting from the initiation, planning, execution, controlling and monitoring and lastly the closure of the project. The closure of a project consists of all the processes performed to finish all the work on a project. That is effective in setting the project in the correct path of success. The final acts in any project will include the transfer and the approval of all the deliverables in the project to the customers and all the users. The last actions in any project have to be performed thoroughly because they determine the success of the project. The importance of the closure of any project is to increase the confidence of the shareholders on the success of the project in meeting all the rules.
There are various essential activities to be performed before the project ends in the closure phase. One of the most important activities is the acceptance of the project deliverables (New Signature, 2014). The project deliverables are supposed to be reviewed by the customers according to the agreements made in the acceptance criteria. The acceptance criteria of the project entail all the functional capabilities of the deliverables, and it is the contract that the project is based on. The importance of acceptance of the project deliverables is core in the development of the project because it helps in making sure the project is in line with the contract in the initial phase of the project. That helps in benchmarking the areas that the project has failed and the areas it has succeeded in meeting its market objectives. Through investigation of the acceptance criteria of the project, the real deliverable is compared with the contract specifications to make sure they are achieved. That can be done by checking into the budget of the project and how it has been satisfied through the project.