Jan 17, 2022

A Counsel On How To Close A Project Lifecycle

Advice on how to bring a project to a successful conclusion and how it can impact your business

Business Development

Business

business tips

project closure

Author

Soupam ChakrabortySenior Account Manager

A Counsel On How To Close A Project Lifecycle

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Prologue:

Having an introduction about project closure and what procedures Account Managers need to follow to ensure a smooth delivery of a project, as well as how to bid adieu to a project, is ironic in itself. However, project closure activities and its outcome speaks volumes about how we've performed as a team and on what note we're closing a project with the client. It is instrumental in building a brand because a project that has been closed successfully has more chances of getting referrals while one that hasn’t will give an insight into any faults that might have happened internally. This article is an introduction to project closure and the right practices for an account manager to follow.

Project Closure Activities And The Best Documentation Practices

Are we going to be referred to a new client because of the phenomenal work that we've done or do we need to work harder to meet the client's expectations better next time?

The answer to the above question is hugely impacted by how the project was closed, the delivery of the app and its performance in the market. Response rates, engagement ratios, usability, and the client's return on investment are all important metrics to consider and it is pertinent that an account manager looks into all these factors to gauge if the engagement is a success. While the end of a project is highly instrumental for a company to evaluate the outcome of the venture, it is also a great moment for both parties to thank and congratulate each other for their contributions to making the project such a huge success.

What else should be considered as a priority before closing a project? Documentation!

Documenting your operational processes not only promotes consistency and efficiency but it also ensures uniformity by allowing everyone to do their best work in a transparent manner. In the long term, taking the effort to document each of your operations in a step-by-step fashion will save you time and money. Documenting the code, signing off on the legals, milestone acceptance paperwork, and having a formal confirmation from both parties on the deliverables of a particular project, in addition to the previously listed criteria, increases professionalism during an engagement. However, if both parties do not sign the deliverables and the above-mentioned documents during the project close out, the product given to the concerned client is null and void and the understanding between both parties can be shattered when it comes to submitting requests or suggestions for improvements.

Epilogue:

The closure of a project marks its success and it requires the account manager to focus his energy on the project to ensure a smooth delivery. Apart from this, it is also critical that the account manager aims to maintain a good business relationship with the client to ensure repeat business in the future.

Thanks for reading.

Cheers!

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