Closing Out the Procurements

Procurements have life cycles of their own—just like projects. I talked about the contract life cycles in Chapter 9. As such, procurements and contracts come to a close just as projects come to a close. As you might guess, there is a process that deals with procurement closings; it's called Close Procurements.

The Close Procurements process is concerned with completing and settling the terms of the procurement. It supports the Close Project or Phase process because the Close Procurements process determines whether the work described in the procurement documentation or contract was completed accurately and satisfactorily. This is called product verification. Projects that have multiple deliverables may have procurements for some of the deliverables but not all. Obviously, this process applies only to those phases, deliverables, or portions of the project that were performed under some form of procurement.

Close Procurements updates records and archives the information for future reference. These records detail the final results of the work of the project. I'll talk about the specifics of this when I cover the Close Procurements outputs.

Procurement documents might have specific terms or conditions for completion and closeout. You should be aware of these terms or conditions so that project closure isn't held up because you missed an important detail. If you are not administering the procurement yourself, be certain to ask your procurement department whether there are any special conditions that you should know about so that your project team doesn't inadvertently delay contract or project closure.

performed under contract, so not all projects require Close Procurements. However, all projects do require the Close Project or Phase process. Since verification and documentation of the project outcomes occur in both of these processes, projects that are performed under contract need to have project results verified only one time.

Exam spotlight

For the exam, remember that product verification, which determines whether all of the work of the project was completed correctly according to the contract or other procurement terms and satisfactory according to stakeholder expectations, is performed during the Closing processes. Product documentation is verified and accepted during the Verify Scope process. One more note: when projects end prematurely, the Verify Scope process is where the level of detail concerning the amount of work completed gets documented.

Close Project or Phase verifies and documents the project outcomes just like the Close Procurements process. Keep in mind that not all projects are

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

Get My Free Ebook

Post a comment