SCM 435 Chapter 8
Terms in this set (15)
What are the four common ways to close or terminate a project?
Integration, Addition, Extinction, Starvation
Closing Process: Integration
A project is completed, and products and services created are integrated into operations; most common approach
Closing Process: Addition
A project creates a new product or service that results in a new unit in the organization, such as a department, division, or company
Closing Process: Extinction
A project ends because it was successful and achieved its goals, or it was unsuccessful or superseded; termination by murder is when there is a sudden end to a project.
Closing Process: Starvation
A project ends by decreasing its budget or suddenly ending funding; also known as withdrawal of life support
What are the main outputs of closing a project?
Project integration management - Final product, service, or result transition, Organizational process assets updates
Project procurement management - Closed procurements, Organizational process assets updates
What are the different documents that are created as part of project closure?
A customer acceptance/project completion form
A final report and presentation
A transition plan (provided as part of the final report)
A lessons-learned report (after a "sticky note" party)
What is a lessons-learned document and why is it important?
Gathering all relevant information for better planning of later project stages and future projects, improving implementation of new projects, and preventing or minimizing risks for future projects
What is the purpose of the project close-out meeting?
-- The scope, time, and cost goals and outcomes
-- The success criteria and results in achieving them
-- Main changes that occurred during the project and how they were addressed
-- The main lessons learned on the project
-- A summary of the transition plan
What is a post-mortem?
Follow-up to address issues that occurred during this project so as to prevent them from occurring in the next project
What sort of information should the project team review during a close-out meeting?
What is knowledge transfer and why is it important?
People who will take over products or results produced as part of the project would need to spend time with project team members so they understand what is involved in detail
What are some best practices for knowledge transfer?
What are some tools to assist in closing procurements
-- Procurement audits: Often performed to identify lessons learned in the entire procurement process
-- Negotiated settlements: Ideally, any disagreements during procurement will be settled by negotiating between the buyer and seller. Sometimes other methods are required, such mediation, arbitration, or litigation
-- Records management system: Provides the ability to easily organize, find, and archive procurement-related documents
What are some pieces of advice on closing projects from the author of the textbook?