What is close out?

Closeout refers to the process of ending or completing a project, program, or activity and the final steps that need to be taken to wrap up any remaining tasks. It involves completing all deliverables, resolving any open issues or concerns, conducting final reviews, and archiving all documentation. Closeout is an essential part of project management as it ensures that the project or program has effectively met its goals and objectives and provides closure to all stakeholders involved in the project. It can also involve transitioning the project's assets or resources to a new owner or organization. Closeout can be done by an individual, team, or department, depending on the size and complexity of the project.