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What happens when a project is terminated?

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I would like to know what will happen when a project is terminated. Will the client pay all the costs of the project, including those that are not yet incurred? Will he pay only the costs already incurred? Or will he pay nothing? Does this depend on the the type of the contract the client has with the vendor for the terminated project?
asked 10 years ago by anonymous

1 Answer

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Projects terminate for a variety of reasons, including successful completion.  Regardless of how the project end, project closure is an important part of the process.  Contracts and other legal documents will need to be reviewed to see the intent of project termination with respect to payments and billings.

Key elements of project closure include:

- Evaluation and re-assignment of the project team
- Final disposition of project resources
- Close out all work streams and contracts
- Post implementation audits
- Audits of payables and receivables
- Determination of ongoing support requirements
- Preparation of final reports
- Orchestrate final project acceptance
- Archival of project documentation
answered 10 years ago by sdcapmp (45,840 points)

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