What should project managers complete during the closure phase of a project?

During the closure phase of a project, it is essential for project managers to finalize documentation that encapsulates the entire project’s performance and outcomes. This includes creating final project documentation, which typically encompasses comprehensive financial reports detailing the project's budget, expenditures, and any financial variances. This documentation serves several critical purposes: it provides a clear account of what was achieved against what was planned, aids in understanding the overall success of the project, and contributes valuable insights for future projects.

Final project documentation helps ensure that all stakeholders are aware of how the project aligned with its goals, and it can be instrumental for lessons learned sessions. Additionally, documenting the financial aspects is a necessary step before formally closing out the project, ensuring all financial matters are settled and providing a record for future reference. Gathering and completing this information is a fundamental aspect of accountability and transparency in project management.