Question

In reference to the project closing checklist;

What is the value of having a checklist to close the project?

Why is an evaluation of the vendors and sub-contractors an important step?

Answer 1

Checklist is of value, because it ensures that all the deliverables, requirements of the project and scope of the project along with the different aspects of the project is completed. So, checklist brings objectivity and point wise evaluation before the closing of the project. After the completion of the checklist requirements, project can be closed. If not, then remaining requirements are to be fulfilled before closing the project.

Evaluation of these entities is important because, it helps to assess their eligibility criteria, experience of work as demanded by the project, credibility,  guarantees (financial and operational) as well as ability to meet the parameters of the project. Hence, evaluation helps to get the selection of best vendors and sub-contractors that are also suitable for the project.  Hence, the project gets the best deal in terms of most suitable partners.