Deck 15: Finishing the Project and Realizing the Benefits

Question 1

When does a project move into the closing stage?

Answer 1

Project manager invest in different projects to accomplish organizational objective. A project moves into the closing stage when its customer validate that the scope is complete and accept the project deliverables.
A project can close as planned or be terminated early. Closing activities of project include securing customer feedback and approval, planning and conducting a smooth transition of project deliverables to a customer, capturing and sharing lessons learned, performing administrative closure, and providing ongoing support.

Question 2

Give two examples of why a project might be terminated early for cause and two examples of why a project might be terminated early forconvenience.

Answer 2

Termination for Cause:
• If a project has slipped into the delays from which any contractor could not make any reasonable recovery, and the delays that significantly impact any of the project.
• The contractor repeatedly or persistently fails or refuses to supply enough materials or skilled labors.
Termination for convenience:
• If an owner cannot obtain the additional financing to finish the work, the owner should terminate the balance of work for the convenience so long as there is termination for the convenience clause in that contract.
• Termination for the convenience clauses has been often found in the construction contracts, and also grant ability to the owner to terminate any contract at their own wish or convenience.

Question 3

Utilizing the ideas in Exhibits 1 and 2, create a project closeout checklist for a project of one of the following types:
• Information systems
• Research and development
• Quality improvement
• Organizational change
Exhibit 1

Exhibit 2

Answer 3

Project Closeout Document (Information Systems)
Project Summary
All the requirements of EAS project were met before its completion. Now the tenders can be offered to IT service vendors by ABC company so that IT contracting resources can be obtained. The technical and business staff of an organization work was very well able to utilize new development methodology and deliver the final products within the two weeks of originally estimated date of completion and within five percent of the budget.
Resources from Accounting Departments, Procurement, and Human Resources have started utilizing new skills after getting proper training. They are in a process of defining initial skill matrices for the technical position within IT department.it has been anticipated that they will successfully utilize all the functionality of EAS within next two months.
Project Team
Quality: Evaluation Criteria versus Results
Schedule: Milestones Actual versus Plan
Lessons Learned
A technical architect was unavailable during early stages of collecting business requirements. The presence of technical from outset of a project might have provided business analysts huge support as requirements are gathered and will have provided better expediency in documenting requirements.
The number of generic test scripts would have been reused to save the time in generic conditions testing.

Question 4

The process of meeting with customers and/or key stakeholders to formalize acceptance of completed project deliverables is called ______.

A) validate scope
B) control scope
C) close procurements
D) manage stakeholders

Question 5

What is validate scope?

Question 6

How can a project manager help to prevent a project from being terminated early?

Question 7

During which project management process would a company auditor verify that all contracts have been completed and all required purchasing standards and methodologies have been followed for the project?

A) Validate scope
B) Close procurements
C) Close project or phase
D) Conduct procurements

Question 8

What is the purpose of a "punch list"?

Question 9

A project manager is in the finishing stage of her project. It is apparent that one of the project's deliverables will not be completed before the project is wrapped up. What options does the project manager have for this uncompleted deliverable?

Question 10

Terminations for ______ often result from aproblem with the project's cost, schedule, or performance.

A) convenience
B) completion
C) default
D) confidence

Question 11

What should a project manager refer back to in order to make sure that all planned work has, in fact, been completed?

Question 12

Provide an example of how poor escalation of a project problem can create additional problems.

Question 13

At the end of the project or phase, lessons learned are finalized and transferred to the company knowledge base for future use. These lessons learned can include all of the following except:

A) project issues log
B) individual performance reviews
C) project risk register
D) which techniques did and did not work well

Question 14

What is the name of the process that verifies that "proper methods were used for all purchasing and that all contracts have been successfully completed"?

Question 15

How does celebrating the completion of a project benefit the project manager?

Question 16

If the buyer decides to terminate a project early, his or her responsibilities to the contractor are laid out in the project's ______.

A) work breakdown structure (WBS)
B) communications plan
C) scope statement
D) procurement agreement

Question 17

Under what conditions can a project be terminated early?

Question 18

Why is it important to go through the process of closing even for projects that are terminated early?

Question 19

During the "close project or phase" process, the team and project manager may wish to review the ______.

A) project charter
B) scope baseline
C) schedule baseline
D) all of the above

Question 20

If both parties agree to stop the project before its planned completion but cannot reach an agreement via direct negotiation, what may be done?

Question 21

How is a project transition plan similar to an instruction manual?

Question 22

What key input is required before a project or project phase can move to the closing stage?

A) Accepted deliverables
B) Project management plan
C) Risk response strategies
D) Stakeholder register

Question 23

Terminations for default often result from a problem with the project's ________, ________, or_______.

Question 24

Why is it important as a project manager to help your team members secure follow up work toward the end of your project?

Question 25

The new management team at a large company has re-evaluated ongoing initiatives and has identified new goals and objectives for the year. They direct that all contracts in progress be terminated immediately. This is an example of _______.

A) management by objectives
B) termination for cause
C) termination for convenience
D) decision by consensus

Question 26

When might a contract clause be invoked?

Question 27

Imagine you are creating a lessons learned database for a recent project you have completed. What would you list as your top issues? Your top successes?

Question 28

The Close Project or Phase process includes all planned activities necessary to _______.

A) process change requests according to the project's change control system
B) transfer the project's products, services or results to the next phase or to production or operations
C) assess performance to determine whether any corrective or preventive actions are necessary
D) manage risks and implement risk response strategies

Question 29

If an early termination of his project seems likely, what two avenues can a project manager explore to increase the likelihood of being able to continue the project?

Question 30

The sponsor of a large multi-phased project you are managing suddenly decides to terminate the project early. How do you respond? How do you notify your team members?

Question 31

During administrative closure of the project orphase, the organizational process assets that areupdated include all of the following except:

A) project files
B) formal documentation of project / phase completion
C) historical information and lessons learned
D) project charter

Question 32

During project closing, customers are asked both to accept the project deliverables and to_______.

Question 33

What should be done with any activities that remain incomplete at the time of project closure?

Question 34

What is the first step in capturing lessons learned at the end of a project?

Question 35

What does a typical closeout report include?

Question 36

How can Microsoft Project be useful during the closing stage of a project?