The Closure Phase of a project is the official business definition of the end of a project. It is the stage in which the project is declared complete and all project activities are concluded. This includes the closure of any contracts, the release of resources, the collection of final payments, and the completion of any necessary documentation. During this phase, the project team should review the project’s performance and determine what lessons can be learned for future projects. This phase is also a time to celebrate the successful completion of the project and recognize the contributions of the team members. It is important to ensure that all stakeholders are informed of the project’s completion and that all project deliverables are delivered on time and to the expected quality. Finally, the project manager should provide a formal closure report to the stakeholders that outlines the project’s performance and any lessons learned.