Assignment 2Q Example | Topics and Well Written Essays - 250 words

2Q - Assignment Example The Project Manager must verify these deliverables are those items that have been finished. However, upon the end of implementation phase, closing a project becomes a necessary point. Closing a project requires careful analysis and often misunderstood from a project management standpoint. This paper will discuss some of the project closures that are challenging for project management. In Agile, financial discrepancies can be a huge factor. Often times in a project, expectations are not met that are defined in scope and the WBS. Thus, creating contingency strategies is pivotal towards executing a successful project. One of the most pivotal contingency strategy is to have a high incremental cost of resources. Resources are often less expensive when they are bought in bulk, but expensive if they are purchased incrementally. Hence, it is critical to have software and other resources purchased in bulk to avoid paying extra money. Another key strategy is to have collaborative sessions on a day-to-day basis. Often times the project falls behind because individuals are not aware of unexpected circumstances that can occur. Keeping in track with their progress on day to day basis can be truly helpful in the long run. This become problematic as the project due date comes closer since many smaller tasks may not be captured in the WBS itself. One of the biggest concerns for c losing a project is the end the finer details of the store. This becomes more problematic the project does not achieve optimal results. This is where the project may fall. For instance, The Project Manager should produce confirmation from the Senior User or User Group that the final product or outcome of the project meets the acceptance criteria.   Another fact to be incognizant of are budget discrepancies. Budget discrepancies are one of the most difficult challenges to deal with when closing down a project because PMs