9.10. Key Terms

360-Degree Evaluation: Attempts to receive feedback from many angles.  Others who may be included in the evaluation process are outside managers, peers, team members of the project.9.8

Contract Closure: Concerned with completing and settling the terms of the contracts let for the project. It supports the project completion process because the contract closure process determines if the work described in the contracts was completed accurately and satisfactorily 9.3

Pay for Performance: An accurate performance appraisal helps Human Resources determine a wage increase or decrease in wages.9.8

Performance Evaluation: This is to assess the project manager, the project team performed during the project. 9.7

Project Audit: A formal review of the project that assesses the standards of the project management and was maintained throughout the project.9.3

Punch List: List of issues/items that require immediate attention; and building a small schedule to complete the remaining work.9.3

Purposes of The Contract: The closure process is to provide formal notice to the seller, usually in written form, that the deliverables are acceptable and satisfactory or have been rejected.9.3

Retrospectives: Are fairly new to the closure of projects.  They are a structured workshop/meeting which gives the team time to reflect on the entire project.9.6

The Close-Out Workshop or Lessons Learned Workshop: An opportunity to end a project the way you started it—by getting the team together.9.5

The Final Report: Provides a final summary of the project performance. The main goal is to improve on future projects.  The report captures any changes and lessons learned from the finished project.9.5