What is Closing Project or Phase in Project Management?

Learn Closing Project or Phase definition in project management with explanation to study “What is Closing Project or Phase”. Study closing project or phase explanation with project management terms to review project management course for online MBA programs.

Closing Project or Phase Definition

Closing Project or Phase Explanation

The Closing Process group deals with the formal closing of a project or a contract. The major process involved in closing process group is called closing project or phase. A project is divided into different phases or stages. These phases and stages must be formally closed before moving on to the next stage. The closing process can also be applied to the contracts and agreements. Moreover, when the overall project objective is achieved, closing activities must be performed for the project too. The major aim of closing project or phase process is to document all the information regarding project, stage or phase. Based on the closing project or phase process, the resources associated with the project or a particular phase are released so that they can become available for future needs. This process is performed whenever needed during the project life cycle.

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