This chapter focuses on the key activities that take place during the project closure phase. Pay attention to contract closeout, final payments, releasing the team, and post-project evaluations. These help ensure that the project met the goals and objectives of the stakeholders.
The original schedule of
activities and the network diagram are compared to the actual schedule
of events. Events that caused changes to the schedule are reviewed to
see how the use of contingency reserves and float mitigated the
disruption caused by those events. The original estimates of contingency
time are reviewed to determine if they were adequate and if the
estimates of duration and float were accurate. These activities are
necessary for the project team to develop expertise in estimating
schedule elements in future projects - they are not used to place blame.
A
review of budget estimates for the cost of work scheduled is compared
to the actual costs. If the estimates are frequently different from the
actual costs, the choice of estimating method is reviewed.