Quiz 15: Finishing the Project and Realizing the Benefits

Business

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.

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.

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 img Quality: Evaluation Criteria versus Results img Schedule: Milestones Actual versus Plan img 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.