Business Project Management
Factors to Consider at Project Termination
"Hey Mary how are you doing," Tom says as he normally does every morning. Mary replies, "I'm okay. Haven't you heard they are done with the xyz project I'm going back to my regular department?" Tom looks flabbergasted as he knew the project was coming to an end but did not realize it was happening so soon. This is a conversation that occurs in many companies across the world and the feeling that Tom has is one that is shared by many employees throughout these companies. This paper will examine some of the factors that must be considered when deciding when to terminate the project.
How does the project manager know if the project is complete? Why is the project being terminated? Wideman (2003) states that projects are normally terminated for two basic reasons success or failure. It is up to the senior management and the various departmental managers to foster an environment that helps the project to be a success, but also allow the project to fail if the project's goal no longer fits with the organization's plans for the future.
Wideman goes on to state that a project is successful when all of the objectives have been met to the full satisfaction of the customer, all closeout activities have been completed, and all interested parties officially accept the project's results or products. At which time, various steps should be considered. Wideman lists these steps as follows:
Finalize all outstanding contracts to vendors, suppliers or customers
Transfer any responsibilities necessary
Reassign the project team members to other duties
Release all remaining resources such as materials
Complete final accounting on the project
Document the results and make recommendations
Present/install the system to the client
Wideman's approach is quite...