You are a senior project manager working on developing a new production line for ice pops. After six months of a one-year project, you are told that the company is losing money because of interest rate changes; your project is canceled, and all the team members, contractors, and full-time staff are to be let go. Until now the project was on target, on schedule, and on budget. You’ve seen this before—no money now, but more money next fiscal year. What is the best action to take next?

Includes questions from the following tasks:     Task 1 Obtain final acceptance of the project deliverables from relevant stakeholders in order to confirm that project scope and deliverables were achieved.     Task 2 Transfer the ownership of deliverables to the assigned stakeholders in accordance with the project plan in order to facilitate project closure.     Task 3 Obtain financial, legal, and administrative closure using generally accepted practices and policies in order to communicate formal project closure and ensure transfer of liability.     Task 4 Prepare and share the final... Show more

Includes questions from the following tasks:    
Task 1 Obtain final acceptance of the project deliverables from relevant stakeholders in order to confirm that project scope and deliverables were achieved.    
Task 2 Transfer the ownership of deliverables to the assigned stakeholders in accordance with the project plan in order to facilitate project closure.    
Task 3 Obtain financial, legal, and administrative closure using generally accepted practices and policies in order to communicate formal project closure and ensure transfer of liability.    
Task 4 Prepare and share the final project report according to the communications management plan in order to document and convey project performance and assist in project evaluation.    
Task 5 Collate lessons learned that were documented throughout the project and conduct a comprehensive project review in order to update the organization’s knowledge base.    
Task 6 Archive project documents and materials using generally accepted practices in order to comply with statutory requirements and for potential use in future projects and audits.    
Task 7 Obtain feedback from relevant stakeholders using appropriate tools and techniques and based on the stakeholder management plan in order to evaluate their satisfaction.    

The Closing domain accounts for 7% (14) of the questions on the PMP exam. 

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