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Once the project is implemented, it approaches its final stage, i.e. termination. The project is terminated in terms of achieving the project goals and obtaining the expected outcomes. The project owners or the management of the organization may decide to terminate the project ahead of schedule, or change the project objectives to terminate it. The basis for the project termination are:

• Formal contract closure with suppliers, manufacturers and customers;

• Official termination of assignments carried out by project team;

• Acceptance of project and end products by the customer;

• Ensuring that all outcomes are received duly, within the budget and in accordance with project requirements;

• Proper documenting the project and providing basic information to facilitate the staff interaction or making changes that may be required in the future;

• Issue and ratification of the final report or project status report, which shows that the expected end outcomes have been achieved;

• Termination of all work on the project, within the organization and beyond.

There are three types of project termination:

•Termination by extinction means that the planned project activities have been either successfully terminated or unsuccessful, and the decision was made to terminate it.

•Termination by addition means that the project has been successful, and its final products have been implemented.

•Termination by integration is the most common way of dealing with successful projects, and the most complex. Equipment, materials and personnel must be returned to the parent organization. Unlike termination by addition, a project cannot be considered as a competitor in the integration of resources.

In any case, the project termination includes the following main stages:

• Acceptance of the final product by the customer,

• Project documentation,

• Auditing after project implementation;

• Issue of final report.

The following checklist may facilitate in determining the project’s readiness for termination without taking into account published or planned dates and deadlines:

• Whether the project is still consistent with the objectives?

• Whether it is practical / helpful?

• Whether the leadership concerned enough in the project to support its implementation?

• Whether the organization has sufficient financial resources to implement the project?

• Whether the support of this project is sufficient for its successful implementation?

• Whether the organization has the required qualifications for the project?

• Whether the project has lost a key figure or support?

• Whether the project team is interested in the success of the project?

• What is the likelihood of achieving the minimum project goals?

• Whether it is still profitable and timely?

The complexity and duration of the project termination is determined by the size, complexity and scale of the project itself. One of the most important questions at the end of the project is reward for success and lessons learnt. The final processes contains are the following:

• Close Project or Phase;

• Close Procurement;

Termination may also consist of:

• Tests of the system developed (test protocol);

• Acceptance procedure, transfer of working papers;

• Personnel certification, lesson learning, experience sharing;

• Financial calculation and analysis of actual expenses;

• Liquidation of jobs and re-integration of staff.