ABSTRACT
The externally facing reason for properly closing out a project is to gather all the information needed by external stakeholders or customers so that their expectations are met. Contracts come to a close just as projects come to a close. Contract closure is concerned with completing and settling the terms of the contract. Contract closure is also the impetus for the “formal” notice to the stakeholder that the project is complete. Because it is externally focused, it is a two-way street. So many organizations undertake projects that are similar in nature that reusing previous projects information will save a significant number of resources. That is the internally facing reason for proper close-out. Part of project close out is also acknowledging the project team, preferably with a celebration. Whether or not the project was a rousing success, there was hard work done on the part of the project team and that hard work should be acknowledged.
