The materials in this Unit correspond to Chapter 14 of the Pinto textbook.
In this section we will discuss the last phase of project management, which is project closeout.
Regardless of whether the project is completed successfully or it has become necessary to closeout the project earlier than anticipated, it is still important to manage the closeout phase, just as any other phase.
But first, let’s look at some of the reasons that lead to early termination of projects:
- Low chance of achieving objectives
- Technical problems that are unsolvable
- Reduced priority of work being done
- Low profitability/ ROI
- Too costly
3. MARKET FACTORS
- Low market potential (for new products)
- Environmental changes – competitive factors, market needs
- Long development period, especially for R&D projects
- Negative effects on other products or projects
- New Problems
Assignment: Your assignment is to use the Internet to look for two or more business or government projects that were terminated early because of the above reasons.