Workflow Templates: Project Closeout Checklist

Ensure all project-related financial transactions have been recorded and posted to the appropriate accounts.

Reconcile all project accounts, including checking for any outstanding expenses or income.

Prepare the final project financial statement and compare the budgeted vs. actual expenses.

Compile all project documentation, including contracts, correspondence, and reports.

Archive important project documents in accordance with the organization’s record retention policy.

Prepare and distribute the final project report to stakeholders, including lessons learned and recommendations for future projects.

Conduct a final project meeting with the client to confirm that all deliverables have been met.

Obtain formal acceptance of the project from the client or project sponsor.

Send out a project closure notification to all stakeholders to officially close out the project.

Update the project management system to reflect the project closure status.

Close out any project-specific contracts and confirm that all terms have been met.

Conduct a team debrief session to discuss what went well and what could be improved for future projects.

Release project team members and reallocate them to other projects or roles within the organization.

Conduct an inventory of any physical or digital assets used during the project and determine their disposition.

Ensure that any rented or leased equipment is returned and that all accounts with vendors are settled.

Project Closeout Checklist