Question

A project manager has received formal customer sign-off on all deliverables from an external vendor who supplied specialized equipment under a fixed-price contract. Before the project can be fully closed, the PM wants to ensure the procurement relationship is properly ended. Which action is MOST important to complete during contract closeout?

Accepted Answer

Verify that all contractual obligations were met, resolve any outstanding claims, and authorize final payment to the vendor

Answer

Schedule a kickoff meeting with the vendor to discuss future engagement opportunities

Answer

Update the risk register with any new risks identified during the vendor's delivery

Answer

Reassign internal team members to new projects before the deliverables are validated