Select Sellers: Outputs Select Sellers

Figure 12-8. Contract Closure: Inputs, Tools Techniques, and Outputs

12.6.1 Contract Closure: Inputs

.1 Procurement Management Plan Described in Section 12.1.3.1 .2 Contract Management Plan Described in Section 12.4.3.3. .3 Contract Documentation Described in Section 12.5.3.1. .4 Contract Closure Procedure Described in Section 4.7.3.2.

12.6.2 Contract Closure: Tools and Techniques

.1 Procurement Audits A procurement audit is a structured review of the procurement process from the Plan Purchases and Acquisitions process Section 12.1 through Contract Administration Section 12.5. The objective of a procurement audit is to identify successes and failures that warrant recognition in the preparation or administration of other procurement contracts on the project, or on other projects within the performing organization. .2 Records Management System Described in Section 12.5. A Guide to the Project Management Body of Knowledge PMBOK ® Guide Third Edition 296 2004 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA

12.6.3 Contract Closure: Outputs

.1 Closed Contracts The buyer, usually through its authorized contract administrator, provides the seller with formal written notice that the contract has been completed. Requirements for formal contract closure are usually defined in the terms of the contract, and would be included in the contract management plan, if one was prepared. .2 Organizational Process Assets Updates • Contract file. A complete set of indexed contract documentation, including the closed contract, is prepared for inclusion with the final project files Section 4.7.3.4. • Deliverable acceptance. The buyer, usually through its authorized contract administrator, provides the seller with formal written notice that the deliverables have been accepted or rejected. Requirements for formal deliverable acceptance, and how to address non-conforming deliverables, are usually defined in the contract. • Lessons learned documentation. Lessons learned analysis and process improvement recommendations are developed for future purchasing and acquisition planning and implementation. 12 A Guide to the Project Management Body of Knowledge PMBOK ® Guide Third Edition 2004 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA 297