Closing is often seen as the least glamorous phase of a project. The deliverables are complete, the budget mostly spent, and the team eager to move on to new challenges. Yet the closing phase carries its own set of risks. Left unmanaged, these risks can undermine the value of all the work done.

De-risking at closing stage ensures that the project is completed well, leaving stakeholders satisfied and the organization positioned to reap lasting benefits.

The Project Management Body of Knowledge (PMBOK®) defines closing as the process of finalizing all activities across all project management process groups to formally complete the project or phase. This includes obtaining formal acceptance of deliverables, releasing resources, archiving documents, and capturing lessons learned.

While it may seem procedural, the closing stage is where many projects stumble especially if they fail to tie up loose ends or to institutionalize what has been achieved.

One of the most significant risks during closing is the failure to secure stakeholder buy-in for the final deliverables. A technically completed project that does not meet user expectations, lacks training, or fails to integrate into operations may be deemed unsuccessful despite being “on time and on budget.”

De-risking during closing therefore requires proactive engagement with stakeholders to confirm acceptance criteria, provide handover support, and verify that benefits realization plans are in place.

Knowledge management represents another common vulnerability. Without a deliberate effort to document lessons learned, valuable insights about risks encountered, mitigation strategies, and success factors are lost. This not only diminishes organizational learning but also increases the likelihood of repeating past mistakes.

De-risking closing means facilitating structured lessons-learned workshops, updating the risk register with outcomes, and sharing findings across teams and portfolios. This creates a feedback loop that strengthens future projects.

Team transitions also pose risks. High-performing project teams often depart quickly once the project is over, leaving gaps in support for the implemented solution. De-risking involves planning for resource release carefully including retaining key personnel as needed to stabilize operations or support warranty periods. This transition period is crucial for building user confidence and preventing post-implementation issues from escalating.

Cultural factors influence the closing phase as well. In some organizations, there is a tendency to rush closure to start new initiatives, risking incomplete documentation or neglected stakeholder engagement. In others, closing may be overly drawn out due to bureaucratic procedures, draining morale and consuming resources unnecessarily.

A balanced de-risking approach tailors the closing process to organizational culture while ensuring no critical steps are skipped.

Optimism bias can surface even at this late stage, with teams assuming that once deliverables are handed over, benefits will automatically follow. De-risking challenges this assumption by ensuring that benefit tracking mechanisms are in place and that owners of long-term outcomes are clearly identified. This shifts the focus from merely finishing a project to achieving its intended impact.

In many ways, closing is the project’s legacy phase. Done well, it cements stakeholder trust, transfers knowledge, and positions the organization for future success. Done poorly, it leaves behind loose ends, unmet expectations, and wasted potential.

By de-risking closing through formal acceptance, structured knowledge capture, smooth transitions, and benefits tracking, project professionals ensure that the story of the project ends not just with completion, but with lasting value.