5.0 CLOSING PROCESS GROUP The purpose of the Closing Process Group is to complete contracts, project work, product work, and project phases in an orderly manner. There are two processes in the Closing Process Group: • Close project or phase • Close procurements The intent of the Closing Process Group is to at least: • Close all contracts • Close project phases • Document lessons learned • Document fi nal project results • Archive project records As the fi nal processes in the project, the closing processes ensure an organized and effi cient completion of deliverables, phases, and contracts. The forms used to document project closure include: • Procurement Audit • Contract Close-Out • Project Close-Out • Lessons Learned 5.1 PROCUREMENT AUDIT The Procurement Audit is the review of contracts and contracting processes for completeness, accuracy and effectiveness. Information in the audit can be used to improve the process and results on the current procurement or on other contracts. Information recorded in the audit includes: • Vendor performance audit • Scope • Quality • Schedule • Cost • Other information, such as how easy the vendor was to work with • Procurement management process audit • Process • Tools and techniques used • Description of good practices • Description of areas for improvement The Procurement Audit can receive information from: • Project Management Plan Procurement Audit information can be used to collect information for Lessons Learned. The information can be combined with the Contract Close-Out report or used separately. Use the information from your project to determine the best approach. The Procurement Audit is a technique from process 12.4 Close Procurements in the PMBOK® Guide—Fifth Edition. You can use the element descriptions in Table 5.1 to assist you in developing a Procurement Audit.  

5.2 CONTRACT CLOSE-OUT Contract close-out involves documenting the vendor performance so that the information can used to evaluate the vendor for future work. Contract closure supports the project closure process and helps ensure contractual agreements are completed or terminated. Before a contract can be fully closed or terminated, all disputes must be resolved, the product or result must be accepted, and the fi nal payments must be made. Information recorded as part of closing out a contract includes: • Vendor performance analysis • Scope • Quality • Schedule • Cost • Other information, such as how easy the vendor was to work with • Record of contract changes • Change ID • Description of change • Date approved • Record of contract disputes • Description of dispute • Resolution • Date resolved The date of contract completion, who signed off on it, and the date of the fi nal payment are other elements that should be recorded. The Contract Close-Out report can be combined with the Procurement Audit report. This information can be used in the Lessons Learned document and the Project Close-out report. Use the information from your project to determine the best approach. You can use the element descriptions in Table 5.2 to assist you in developing a Contract Close-Out.