There are substantial losses and costs associated with projects that have not been closed effectively. When a project is finished and closed with a positive attitude, a lot of value can be generated for the company. Records will be more accurate, costs better managed and controlled, and team spirit will flourish. Relationships among the workers will be strengthened and so will their loyalty to the company. The benefits of closing projects properly are not always obvious, so let's check what value is out there to be captured. According to the pmhut.com website, well-planned and well-executed project ending is simply a stage with big potential.
1) Share lessons learned and results
Everyone can learn something, not only those directly involved in the project, but also others can gain from the experience. Maybe there are some parallel or similar projects – both in the present or in the future. Knowledge should be consolidated, formalized and shared. Relationships with contractors and suppliers can be also utilized.
2) Recognize efforts
When you recognize people's efforts, everyone will experience a self-confidence boost. Workers will get much more satisfaction from the job they have done. They will know that management notice and value their contributions.
3) Celebrate completion
It doesn’t matter whether the completion was successful or not. Select the positive benefits of the work and recognize them, even when the project overall could be perceived as rather unsuccessful. Handle failure constructively – ask what lessons have been learned.
4) Create team spirit
Enable team members who were separated by time or distance to meet in person. There are different roles played at different stages of the project – let them talk about it and get to know each other. Of course, there are some costs, but the hidden benefits are very easy to overlook.
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