Process Definition

This Close Procurements Process verifies that each individual procurement has been closed, and that each product or service has been formally accepted by the project sponsor or stakeholder.  The key benefit to this process is that it contains documentation that can be referenced during future project planning. 

Process Assessment

Procurement closure is a well organized and structured event.  Each individual procurement follows the same process of formal acceptance, following verification of payment and completion of supporting contracts.  Failure to adhere to a set process may result in confusion at the time of contract closure or procurement acceptance.

Figure 48. Close Procurements: Inputs, Tools and Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), 5th Edition" by Project Management Institute, 2013, p. 386. Copyright 2013 by Project Management Institute, Inc. Reprinted without permission.

Artifacts

1. Procurement Documents (Input):  This PMGT 614 WBS 1.7 assignment involves the creation of a Statement of Work (SOW).  This statement is the foundation for identification of project deliverables and the creation of the procurement plan.   

2.  Organizational Process Assets Updates (Output):  This PMGT 614 Lessons Learned is an example of how to take advantage of each project and how to improve upon project process.

3.  Closed Procurements (Outputs): This PMGT 614 assignment involved the creation of a procurement checklist.  This form formalizes the procurement acceptance process.  It can be used to accept an individual procurement process, or the entire