Task: Approve Closure of Project

Purpose

The Project or Program Manager will request the closure of a project. This step will validate that the required deliverables and the closure process have been followed prior to closing the project in the PPM Tool.

Relationships

RolesPrimary Performer: Additional Performers:
InputsMandatory:
    Optional:
    • None

    Main Description

    Once a project is closed in the tool, it cannot be updated. Therefore, it is imperative that the data is validated to be accurate prior to the closure of the project, for future reporting. This process will set the project schedule and cost health at closure, verify a workplan was created for the project, and verify an estimate and actual costs were put in as well.

    Steps

    Verify Work Plan Exists

    Verify that the work plan exists by going to the Project Summary tab and looking for a work plan with at least the following tasks: Initiation, Planning, Execution, and Close.

    Verify Financial Summary:

    Verify that forecast and actual costs were entered for the project. Go to the Project Summary Tab and go to the Financial Summary Section, open the Financial Summary and verify the project manager entered Forecast and actual amounts.

    Set Audit Flag:

    If the project had a workplan forecasted and actual costs posted, set the Pass Audit Flag to Yes and enter "passed Audit" in the Audit Comments. If any of the items are not complete, set the Pass Audit Flag to "No" and indicate the items that were missing in the Audit Comments.

    Set Project's Schedule Health at Closure

    Once you are ready to completely close the project, make sure that its Health at Closure is set and, or verify that it is correct.

    If the project ended within 10% from the original planned finished period, the project schedule health is green; if the project ended within 20% of the original end date, then it is Yellow; and if it is over 20%, it is Red. You can use the Health Indicator Calculator spreadsheet to verify the health and set it accordingly. To view the Original Planned End Date, go to the Project Details tab and under the Project Details section you will find both the Original Planned Finished and Begin Period and Actual Complete Date. Use these dates to do your review.

    Set Project's Cost Health at Closure:

    If the project ended within 10% from the original forecasted estimate the project schedule health is green, if the project ended within 20% of the original estimate then it is Yellow and if it is over 20% it is Red. You can use the Health Indicator Calculator spreadsheet to verify the health and set it accordingly. To see the original estimated cost, you will need to open the financial summary on the Project Summary Tab, View the Snapshot for the Detail Plan, select the Total in the Cost Details Section, and then utilize the Health Indicator Calculator Spreadsheet to compare this amount with the total actual cost from the current financial summary.

    Key Considerations