In the project management lifecycle, the closing phase can be the most difficult since there is a tendency to look for cost reductions, or people are redirected to work on another project. Closing a project that is coming to completion or deciding to terminate a failing project early can lead to inefficiencies. The project manager’s goal in all cases should be to minimize wasted effort or loss of time and ensure successful closure of the project.
Based on research using credible project management websites (such as PMI.org), current scholarly resources from the library, and the reading material in the course, do the following:
- Describe the different methods for closing or terminating a project.
- Describe and evaluate some of the best practices companies should use for ending a project based on examples you found in your research.
- Describe what can make closing a project difficult and make recommendations as to what can be done to mitigate those difficulties.
As you review the postings of fellow classmates, do your best to further the discussion by offering up examples, extending the explanation, and asking thoughtful questions to at least two of your classmates.