Projects close for many reasons. They can close because they become an ongoing operation or lack funds and resources. The need for the project may have gone away because of technological advances, or the project may simply become extinct because it is completed and accepted by all stakeholders. The Apples and Pears project is coming to a close because it is almost finished. There are a few things left to do, however.
You want to be sure that all work has been completed and accepted by the customer. The closing phase consists of the following:
Project Closure Finalize all activities across all of the project process groups to formally close the project or a project phase.
Contract Closure Complete and settle each contract, ...