5.9. Key Terms
Key Terms
- Active Control: Takes a two-pronged approach: Controlling what you can by making sure you understand what’s important, taking meaningful measurements, and building an effective team focused on project success. Adapting to what you can’t control through early detection and proactive intervention.
- Close-Out Meeting: is an opportunity to end a project the way you started it—by getting the team together. During this important event, the team should review what went well and what didn’t go well and identify areas for improvement.
- Close-Out Report: provides a final summary of the project performance.
- Closure or Completion phase: the emphasis is on releasing the final deliverables to the customer, handing over project documentation to the business, terminating supplier contracts, releasing project resources, and communicating the closure of the project to all stakeholders.
- Contract Closure: Concerned with completing and settling the terms of the contracts 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.
- Deliverable: This means anything your project delivers. The deliverables for your project include all of the products or services that you and your team are performing for the client, customer, or sponsor, including all the project management documents that you put together.
- Implementation Phase: when you and your team actually get to do the project work and generate the deliverables.
- Project Closure: is traditionally considered the final phase of a project.
- Project Reports: provide senior management and project teams an opportunity to determine a project’s status.
- Punch List: List of issues/items that require immediate attention and building a small schedule to complete the remaining work.
“10.8. Key Terms” from Essentials of Project Management by Adam Farag is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where otherwise noted. Modifications: changes to earned value, and cost variance. Removed benchmarking. Added change control, implementation phase and project reports.
