Project closure

Exclusive forum for iZenBirdge PMP® clients
KaurP
Participant
Participant
Posts: 94
Joined: Wed Apr 04, 2018 4:08 am

Project closure

Postby KaurP Fri Aug 17, 2018 5:52 pm

Project deliverables have been validated and accepted by the customer and now sponsor has asked the Project Manager to close the project. Project manager needs to ensure all the procurements are closed before he can start closing a project. Which statement best describe the difference between a Procurement closure and a overall Project closure?

A. Financial closure of Procurement is done in Control Procurement process and Administrative closure in Close Project process however for overall Project, financial and administrative closure happens in Close Project process itself.
B. Financial closure and administrative closure for procurements take place in Control Procurement process itself however for overall Project, financial closure and administrative closure take place in Close Project or phase process.
C. Financial closure and administrative closure for procurements take place in Control Procurement process itself however for overall project, administrative closure happens throughout the project lifecycle and financial closure in Close Project or phase process.

D. Financial closure and administrative closure for procurements are part of Control Procurement process. The final procurement documents become an input to Close Project or Phase for overall Project financial as well as administrative closure.

I think its either option B or D.
manishpn
Expert
Expert
Posts: 2577
Joined: Sat Jan 04, 2014 3:55 pm

Re: Project closure

Postby manishpn Sat Aug 25, 2018 3:43 pm

KaurP wrote:Project deliverables have been validated and accepted by the customer and now sponsor has asked the Project Manager to close the project. Project manager needs to ensure all the procurements are closed before he can start closing a project. Which statement best describe the difference between a Procurement closure and a overall Project closure?

A. Financial closure of Procurement is done in Control Procurement process and Administrative closure in Close Project process however for overall Project, financial and administrative closure happens in Close Project process itself.
B. Financial closure and administrative closure for procurements take place in Control Procurement process itself however for overall Project, financial closure and administrative closure take place in Close Project or phase process.
C. Financial closure and administrative closure for procurements take place in Control Procurement process itself however for overall project, administrative closure happens throughout the project lifecycle and financial closure in Close Project or phase process.

D. Financial closure and administrative closure for procurements are part of Control Procurement process. The final procurement documents become an input to Close Project or Phase for overall Project financial as well as administrative closure.

I think its either option B or D.


Option D is the right answer, final procurement documentation and Agreement (Contract) is an input to project closure
Br,
Manish P
PMP, PMI - ACP, SAFe Agilist
http://www.izenbridge.com/blog/7-effect ... ification/

Return to “PMP® Queries and Tips”

Who is online

Users browsing this forum: No registered users and 7 guests