TSI’s Project Management Discussion Blog

Lesson 44 in TSI’s Free PMP Exam Prep Lunchtime Lecture Series – Applying the Contract Closure Process

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Contract Closure is the procurement process of formally accepting and closing contracted work. Like other procurement processes, Contract Closure is applied only if services/supplies are contracted/ purchased to support the project.

Contract Closure is performed by verifying that contracted work was completed correctly and contract terms and conditions were satisfied. Formal acceptance is then documented and contract records are archived.

Contract Closure Must Know Concepts

1. “Contract Closure is the procurement process of formally accepting and closing contracted work.”
2. “The primary deliverable (Output) of the Contract Closure process is closed contracts.”
3. “Contract Closure is performed by verifying that contracted work was completed correctly and contract terms and conditions were satisfied. Formal acceptance is then documented and contract records are archived.”
4. “Contract Closure is applied only if services/supplies are contracted/purchased to support the project.”

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