(9.5) Contract Closure

(9.6.1) Process Input

... generated by predecessor processes

(9.6.2) Process Definition

Contract Closure is the process for "[...] completing and settling each contract, including the resolution of any open items, and closing each contract applicable  to the project or project phase"  (comp. PMBOK3, p. 269): Part of this process is the "[...] verification that all work and deliverables were acceptable" or - if an "early termination" must be managed - the "[...] mutual agreement" concering the conditions of the early termination. (comp. PMBOK3, p. 295).

The subject Procurement Management operates on the base of other contracts concerning concepts

(9.6.3) Tools and Techniques

PMBOK Mentioned Methods

  • Procurement audits are "a structured review of the procurement process" for identifying "[...] successes and failures that warrant recognition in the preparation or administration of other procurement contracts [...]"
  • Records management systems are used to manage the documents

(comp. PMBOK3, p. 296).

Open Source Tools

  • NN

(9.6.4) Process Output

  • Closed Contracts are those which usually the buyer and his authorized contract administrator has terminated by a "[...] formal written notice that the contract has been completed"
  • Updates of the Organizational Process Assets are generated by expanding the existing organization process assets by adding the contract files being "a complet set of indexed contract documentation, including the closed contract", by ading the "deliverable acceptance" and by adding the "lessons learned documentation"

(comp. PMBOK3, p. 297)

(9.6.5) Output Using Successor Processes

No successor processes