Project closeout is a crucial administrative process handled by a contracting specialist assigned to the OSP Closeout Team. Although it often receives less attention than other project phases, closeout plays a significant role in ensuring project success and organizational well-being. 

What is project closeout? 

Project closeout is the process of formally concluding all activities across different project phases. It involves several key steps:

  • Transferring Deliverables: Ensuring that all project deliverables are handed over to the client or relevant stakeholders.
  • Evaluation: Assessing the project’s overall performance, including meeting objectives, quality, and stakeholder satisfaction.
  • Resource Allocation: Reallocating resources (such as personnel, equipment, or budget) that were dedicated to the project.
  • Communication: Keeping stakeholders informed throughout the closeout process.


Why is project closing important? 

Project closing is not just a formality; it has a significant impact:

  • Risk Mitigation: Proper closeout reduces organizational risk. Incomplete or hasty closeout can expose the organization to potential risks.
  • Benefits Realization: Effective closeout ensures that the anticipated benefits from project deliverables are realized.
  • Financial Impact: Inadequate closeout may lead to financial losses.
  • Credibility: A well-executed closeout enhances the project manager’s and team’s credibility.


What is the role of the PI/PD?

The PI/PD plays a critical role during project closeout. These processes may vary based on specific contractual provisions, agency regulations, and institutional policies. 

Closeout Process
  • Auto-generated notifications are sent to the PI and the department 30 days before the project’s end date.
  • The PI is responsible for informing the Contracting Specialist and OSP if an extension will be requested.
  • If the project will expire at the end of the performance date, no action is required by the PI.
  • 30 days after the end of the performance date, another notification informs the PI that the project has passed its end date.
  • The Contracting Specialist handles the actual project closure.
Reporting Requirements
  • The PI responds to the closeout notice, indicating whether there are any inventions or discoveries associated with the project.
  • They ensure that all project deliverables are completed.
  • Final invoices and financial papers are prepared by either G&C Accounting or GTRI Accounting.
  • The Property Department prepares the property report.
  • The Security Department handles the Classified Material Certificate.
  • Closeout documents flow down from the main project to any subagreements.
  • The project is officially terminated when all sponsor obligations have been fulfilled.

If you have any further questions about this essential part of the project life cycle, contact the OSP Closeout Team.