The closing phase of project management is all about conducting an orderly and formal end to the now-completed project. However, even if the project has not made it to completion and has instead been cancelled, this closing process is still a necessary part of the project’s life cycle. It is also the most skipped process of the five phases of project management.
At this time, all of the project’s data and documentation are gathered into one file, which is then stored by the organisation or company for future reference. It is this formal closing of the project that sums up all pertinent information that can be used for further business analysis and insight.
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