Closing the project or phase

According to the Project Management Body of Knowledge (PMBOK® Guide) - Sixth Edition, the close project or phase process is about finalizing activities, not only for the project or phase but also to be sure that contracts are closed out as well. Even though the formal closing of contracts occurs in the control procurements process, it's still important to make sure that all the ducks are in a row rather than running around the backyard going in different directions. In some cases, you will have go-no-go decisions, phase gate reviews, and other types of formal phase closures. The close project or phase process is making sure that project or phase information is archived, all work is completed, and as needed, all resources are released to work on other projects or returned to their functional departments. If the project is phase-oriented, this process could happen several times throughout the life cycle of the project, but if the project is not...