The major purposes of a project close-out it to detail a
formal acceptance and orderly process to end your current project and hand it
off to your customer.  The Close-out for
the project should take place at the end when all work and additional work
requested has been completed or if the project has been stopped earlier than
expected. Project Closeout’s are and extremely important part of each job but
is often ignored even by large organizations, especially when they operate in
multi-project environments. It documents the completion of the project and
prevents the project from moving on past the original scope of work and budget.
Closure also deals with the final details of the project and provides a normal
ending for all procedures, including the delivery of the final product.

Purpose of a Project Close-Out