Project closure is an important, but often overlooked, step in the project management process. Identify and describe a process for project closure for your company. Analyze a scenario in which management desires to prematurely stop or terminate a project you are managing. How might this closeout process differ from a natural project closure? Evaluate the project closure process for a global or virtual team. How does this differ from the closure process for a collocated team?

Mature project management organizations utilize some form of knowledge-transfer process to impart lessons learned. Identify and describe a process for collecting lessons learned for a project at your company. Suppose you have a long project (multiyear) with a 10% change over of project team members. How would you recommend collecting lessons learned in that situation? Evaluate the lesson-learned process in an organization you are familiar with and recommend constructive changes to the process. Why you have you recommended these changes? Explain your rationale for each recommendation.

What are two major reasons projects fail? How might you prevent failure of the project?