WOLLO UNIVERSITY

COLLEGE OF BUSINESS AND ECONOMICS

DEPARTMENT OF MANAGEMENT

Individual Assignment of Project Termination and Reporting

Master of Art Degree in Project Management

Submitted to: Mengistu Guliti (Ph.D.)

By: Kalid Ahmed

Dec,08,2024 G.C
Table of Contents
Project Termination.....................................................................................................................................2
The Varieties of Project Termination...........................................................................................................2
When to Terminate the Project...................................................................................................................3
1. Project success.................................................................................................................................3
2. Project failure..................................................................................................................................3
The Project Termination Process.................................................................................................................3
Final Project Reporting................................................................................................................................5
Report Contents...........................................................................................................................................5

\
Project Termination

Project termination refers to the formal conclusion of a project, encompassing the processes that
ensure all tasks are completed, resources are released, and outcomes are evaluated. It signifies
the end of a project’s lifecycle and can occur for various reasons, including successful
completion, budget constraints, or changes in organizational strategy.

The Varieties of Project Termination

The following reasons will lead to a termination decision

The project results have been delivered to the customer

The project has overrun its cost and schedule objectives

The project owner's strategy has changed

The project's champion has been lost Environmental changes that affect the project

Advances in the state of the art hoped for in the project has not been realized

The project's priority is not high enough to survive in the competition

Technical performance is compromised, or technical risks are too great

The purposes for which the project was originally established have changed

When to Terminate the Project

A project can terminate or be terminated due to successful finish or failure.

1. Project success
This means that the project has met its cost, schedule, and technical performance objectives and
has been integrated into the customer's organization to contribute to the customer's mission.

2. Project failure
This means that the project has failed to meet its cost, schedule, and technical performance
objectives, or it does not fit in the organization's future.
The Project Termination Process

1. Evaluate Project Completion

 Verify that all project deliverables and objectives have been met.

 Conduct a final review with stakeholders to confirm satisfaction with outcomes.

 Compare actual results against the original scope, schedule, and budget.

2. Obtain Formal Approval

 Secure sign-off from the client or project sponsor to confirm project acceptance.

 Document this approval to avoid disputes.

3. Conduct a Final Performance Review

 Evaluate the project team’s performance.

 Review how well the project adhered to quality, time, and cost standards.

 Identify any unresolved issues or risks and determine their management.

4. Reconcile Financials

 Settle outstanding invoices, payments, or contracts with vendors.

 Ensure budget utilization is finalized and documented.

 Address any discrepancies between planned and actual costs.

5. Transition Deliverables

 Transfer project outputs, such as documents, products, or services, to the client or

operational team.

 Provide necessary training or support to ensure proper adoption.

6. Archive Documentation
  Collect and store all project-related documents, such as contracts, plans, reports, and
approvals.

 Organize these in a central repository for future reference.

7. Conduct Lessons Learned

 Hold a post-mortem or retrospective meeting with the team and stakeholders.

 Identify successes, challenges, and areas for improvement.

 Document lessons learned for application in future projects.

8. Release Resources

 Reassign project team members to new tasks or projects.

 Release physical resources, such as equipment or office space, back to the organization.

9. Communicate Closure

 Announce the formal closure of the project to stakeholders.

 Celebrate successes and acknowledge contributions to maintain morale.

10. Post-Termination Follow-Up (Optional)

 Conduct follow-up evaluations to assess the long-term success or impact of the project.

 Address any unforeseen issues that arise after closure.

Final Project Reporting

We have to be able to document status, success or failure whether it is for a small components or
full detailed final reports. All documentation is designed and decided in the planning process so
people involved should know

 what reports should be written

 what the reports should include

  when reports should be finished

 who should be responsible

there should be time available for the writing and included in the schedules

Report Contents

The Final Project Reporting must include the below Points

 Background to the Project

 Project Overviews

 Evaluation

 Type of Evaluation:

 Results of Evaluation

 Summary of Evaluation Results

 Efficiency

 Impact

 Contributing Factors

 Inhibiting Factors

 Conclusions

 Recommendations

 Lessons Learned