What is the last phase of the project development lifecycle?

The last phase of the project development lifecycle is Closure. This phase is crucial as it encompasses all activities necessary to finalize the project and officially close it. During the Closure phase, project managers ensure that all project deliverables are completed and accepted by stakeholders. Additionally, any remaining tasks, such as final payments, contract closures, and documentation, are addressed to solidify the project's completion.

The Closure phase also often involves evaluating the project's performance against its objectives, which helps identify lessons learned and can inform future projects. This retrospective analysis is essential for organizational growth and knowledge transfer. Therefore, Closure is the definitive ending of the project lifecycle, ensuring all loose ends are tied up and stakeholder satisfaction is achieved.