Developing a Project Closure Checklist

𝗧𝗼𝗱𝗮𝘆, 𝗣𝗠𝗜 𝗿𝗲𝗹𝗲𝗮𝘀𝗲𝘀 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗿𝗲𝘀𝘂𝗹𝘁𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗹𝗮𝗿𝗴𝗲𝘀𝘁 𝘀𝘁𝘂𝗱𝘆 𝘄𝗲’𝘃𝗲 𝗲𝘃𝗲𝗿 𝗰𝗼𝗻𝗱𝘂𝗰𝘁𝗲𝗱 - 𝗼𝗻 𝗮 𝘁𝗼𝗽𝗶𝗰 𝘁𝗵𝗮𝘁 𝗶𝘀 𝗰𝗿𝗶𝘁𝗶𝗰𝗮𝗹 𝘁𝗼 𝗼𝘂𝗿 𝗽𝗿𝗼𝗳𝗲𝘀𝘀𝗶𝗼𝗻: 𝗣𝗿𝗼𝗷𝗲𝗰𝘁 𝗦𝘂𝗰𝗰𝗲𝘀𝘀. 📚 Read the report: https://lnkd.in/ekRmSj_h With this report, we are introducing a simple and scalable way to measure project success. A successful project is one that 𝗱𝗲𝗹𝗶𝘃𝗲𝗿𝘀 𝘃𝗮𝗹𝘂𝗲 𝘄𝗼𝗿𝘁𝗵 𝘁𝗵𝗲 𝗲𝗳𝗳𝗼𝗿𝘁 𝗮𝗻𝗱 𝗲𝘅𝗽𝗲𝗻𝘀𝗲, as perceived by key stakeholders. This clearly represents a shift for our profession, where beyond execution excellence we also feel accountable for doing anything in our power to improve the impact of our work and the value it generates at large. The implications for project professionals can be summarized in a framework for delivering 𝗠𝗢𝗥𝗘 success: 📚𝗠anage Perceptions For a project to be considered successful, the key stakeholders - customers, executives, or others - must perceive that the project’s outcomes provide sufficient value relative to the perceived investment of resources. 📚𝗢wn Project Success beyond Project Management Success Project professionals need to take any opportunity to move beyond literal mandates and feel accountable for improving outcomes while minimizing waste. 📚𝗥elentlessly Reassess Project Parameters Project professionals need to recognize the reality of inevitable and ongoing change, and continuously, in collaboration with stakeholders, reassess the perception of value and adjust plans. 📚𝗘xpand Perspective All projects have impacts beyond just the scope of the project itself. Even if we do not control all parameters, we must consider the broader picture and how the project fits within the larger business, goals, or objectives of the enterprise, and ultimately, our world. I believe executives will be excited about this work. It highlights the value project professionals can bring to their organizations and clarifies the vital role they play in driving transformation, delivering business results, and positively impacting the world. The shift in mindset will encourage project professionals to consider the perceptions of all stakeholders- not just the c-suite, but also customers and communities. To deliver more successful projects, business leaders must create environments that empower project professionals. They need to involve them in defining - and continuously reassessing and challenging - project value. Leverage their expertise. Invest in their work. And hold them accountable for contributing to maximize the perception of project value at all phases of the project - beyond excellence in execution. 📚 Please read the report, reflect on its findings, and share it broadly. And comment! Project Management Institute #ProjectSuccess #PMI #Leadership #ProjectManagementToday

Dear Accountants, if you have ever struggled with how to treat the disposal of an asset then this post is a MUST read for you! The trick to understanding how to treat any asset disposal, is to realize that all the cost and accumulated depreciation once recognized for that asset needs to be REMOVED from the books of account, so that the asset balances reflects the true reality. To do this: 👉 You derecognize the cost of asset from the asset account by CREDITING the asset account with cost of the asset. 👉 You derecognize the accumulated depreciation recognized so far for that asset by DEBITING the Accumulated Depreciation account with the depreciation calculated so far for that asset. 👉 Recognize the gain or loss on disposal of the asset. This is usually the difference between the Sales proceed and the net book value of the asset. Sounds like a lot? Well, this real life scenario based question would help simplify it: 🔘On 1st Jan 2022, your organization bought a Dell laptop of N1,800,000 for one of its senior staff which is expected to have a useful life of 3years and depreciation is expected to charged on a straight line basis over the life of the asset. 🔘On the 1st of June 2023, the staff using the laptop opted to buy it from the company for a sum of N800,000. 🔘As the Accountant of the company, show the double entry needed to treat the above transactions. 📌Answer: 👉On 1st Jan 2022 when the asset was bought, the double entry would be: Dr: Computer Equipment - N1,800,000 Cr: Bank/cash - N1,800,000. 👉Then we compute the monthly depreciation for the asset. The asset is expected to have a useful life of 3 years which is 36months. The monthly depreciation would then be (1,800,000/36) which is N50,000. 👉On a monthly basis, we would pass the below double entry to recognize the depreciation. Dr: Depreciation (Expenses) - N50,000 Cr: Accumulated Depreciation - N50,000 ***By 1st June 2023, when the Laptop was sold to the staff, accumulated depreciation would have been recognized for 17months (From Jan 2022 - May 2023). 👉First, we derecognize the cost of the asset (N1,800,000) and the accumulated depreciation (50,000 x 17) N850,000 from our books. 👉To do that we use the below double entry: Dr: Accumulated Depreciation - N850,000 Dr: Bank - N800,000 Dr: Loss on Disposal - N150,000 Cr: Computer equipment - N1,800,000. 📌Please note that the loss on disposal is the difference between the net book value of the asset and the sales proceed, in this case -N150,000 (N800,000-N950,000). I hope this helps. Found this insightful? Please comment and share so others can learn.

In any data analytics project, documenting your work will save a lot of headaches in the long run. One of my favorite ways to do that is by using my a well written README file. Think about the README file as a “fools proof” recipe, where anyone can read and understand what your project is about. Here is what you can include: ⭐️ Project Overview: Start with a description of what the project goals are. In here you can put the scope of your analysis. ⭐️ Data Sources: Provide an overview of where the data comes from. This is specially helpful if you have multiple sources of data. ⭐️ Project Structure: Explain the organization of the project’s files and directories. This helps users know where to look for scripts, datasets, and outputs. ⭐️ Assumptions and Limitations: State any assumptions made during the analysis and acknowledge the project’s limitations, such as data quality or model constraints. ⭐️ Version Control: Maintain records of code and dataset versions to track changes and revert if necessary. ⭐️ ETL/Processing Pipelines: Document each step in data extraction, transformation, and loading processes, including the rationale behind any data cleaning, filtering, or transformation decisions. ⭐️ Business Logic: Clarify how the data connects to the business logic. For instance, how missing data is handled or the logic behind specific business rules applied to the data ⭐️ Analysis and Insights Documentation: Be clear about how the analyses was performed, which models were used, and how that relates to the project goals. This helps future users or team members understand how conclusions were reached. A solid documentation takes time. Remember that those tips are good not only for your coworkers, but your future self will also thank you Be curious and keep on nerding 😊

𝗛𝗼𝘄 𝗱𝗼 𝘆𝗼𝘂 𝗿𝗲𝘀𝗼𝗹𝘃𝗲 𝗖𝗼𝗻𝗳𝗹𝗶𝗰𝘁𝘀 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗮 𝗖𝗹𝗶𝗲𝗻𝘁 𝗮𝗻𝗱 𝘁𝗵𝗲𝗶𝗿 𝗘𝗥𝗣 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗣𝗮𝗿𝘁𝗻𝗲𝗿? We received a call last week from a previous client who was happy with their ERP solution but dissatisfied with their ERP Implementation Partner. Despite a successful implementation, they were experiencing unresolved post Go-Live issues and wanted to change their ERP Partner. This situation raises an important question: What can you do when expectations diverge, and communication breaks down? 𝗢𝘂𝗿 𝗥𝗲𝗰𝗼𝗺𝗺𝗲𝗻𝗱𝗲𝗱 𝗥𝗲𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗣𝗿𝗼𝗰𝗲𝘀𝘀 1️⃣ 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁 𝗸𝗲𝘆 𝗶𝘀𝘀𝘂𝗲𝘀 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲𝗹𝘆 to ensure the partner clearly understands all problems. 2️⃣ 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁 𝗮 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗳𝗿𝗲𝗲𝘇𝗲 on customizations unrelated to addressing known issues. 3️⃣ 𝗙𝗮𝗰𝗶𝗹𝗶𝘁𝗮𝘁𝗲 𝗮 𝗷𝗼𝗶𝗻𝘁 𝗿𝗲𝘃𝗶𝗲𝘄 𝘀𝗲𝘀𝘀𝗶𝗼𝗻 with both client and implementation partner present. Potentially involve an independent facilitator to ensure calm objectivity. 4️⃣ 𝗗𝗲𝘃𝗲𝗹𝗼𝗽 𝗮 𝗰𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝘃𝗲 𝗮𝗻𝗱 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶z𝗲𝗱 𝗿𝗲𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗽𝗹𝗮𝗻 that addresses both technical solutions and financial considerations. 5️⃣ 𝗖𝗿𝗲𝗮𝘁𝗲 𝗮 𝗱𝗲𝘁𝗮𝗶𝗹𝗲𝗱 𝗿𝗲𝗺𝗲𝗱𝗶𝗮𝘁𝗶𝗼𝗻 𝘀𝗰𝗵𝗲𝗱𝘂𝗹𝗲 with clear priorities, sequence, and resource requirements. 6️⃣ 𝗘𝘀𝘁𝗮𝗯𝗹𝗶𝘀𝗵 𝗽𝗲𝗿𝗶𝗼𝗱𝗶𝗰 𝗿𝗲𝘃𝗶𝗲𝘄 𝗰𝗵𝗲𝗰𝗸𝗽𝗼𝗶𝗻𝘁𝘀 to monitor adherence to the agreed plan. 𝗞𝗲𝘆 𝗟𝗲𝘀𝘀𝗼𝗻𝘀 𝗟𝗲𝗮𝗿𝗻𝗲𝗱 💡 Changing implementation partners mid-process typically increases costs as the new partner must familiarize themselves with the system and any customizations. 💡 Holding the current partner accountable helps control remediation costs. 💡 Implementing a Demand and Release Management Strategy for future functionality requests provides necessary control. 💡 Steering Committee support is essential for evaluating and approving any change requests. What advice would you give in similar situations? #erp #crm #cfo #ceo #erpproject #erpconsultant

Here are some realistic KPIs that project managers can actually track : 1. Schedule Management 🔹 Average Delay Per Milestone – Instead of just tracking whether a project is on time or not, measure how many days/weeks each milestone is getting delayed. 🔹 Number of Change Requests Affecting the Schedule – Count how many changes impacted the original timeline. If the number is high, the planning phase needs improvement. 🔹 Planned vs. Actual Work Hours – Compare how many hours were planned per task vs. actual hours logged. 2. Cost Management 🔹 Budget Creep Per Phase – Instead of just tracking overall budget variance, break it down per phase to catch overruns early. 🔹 Cost to Complete Remaining Work – Forecast how much more is needed to finish the project, based on real-time spending trends. 🔹 % of Work Completed vs. % of Budget Spent – If 50% of the budget is spent but only 30% of work is completed, there's a financial risk. 3. Quality & Delivery 🔹 Number of Rework Cycles – How many times did a deliverable go back for corrections? High numbers indicate poor initial quality. 🔹 Number of Late Defect Reports – If defects are found late in the project (e.g., during UAT instead of development), it increases risk. 🔹 First Pass Acceptance Rate – Measures how often stakeholders approve deliverables on the first submission. 4. Resource & Team Management 🔹 Average Workload per Team Member – Tracks who is overloaded vs. underloaded to ensure fair distribution. 🔹 Unplanned Leaves Per Month – A rise in unplanned leaves might indicate burnout or dissatisfaction. 🔹 Number of Internal Conflicts Logged – Measures how often team members escalate conflicts affecting productivity. 5. Risk & Issue Management 🔹 % of Risks That Turned into Actual Issues – Helps evaluate how well risks are being identified and mitigated. 🔹 Resolution Time for High-Priority Issues – Tracks how quickly critical issues get fixed. 🔹 Escalation Rate to Senior Management – If too many issues are getting escalated, it means the PM or team lacks decision-making authority. 6. Stakeholder & Client Satisfaction 🔹 Number of Unanswered Client Queries – If clients are waiting too long for responses, it could lead to dissatisfaction. 🔹 Client Revisions Per Deliverable – High revision cycles mean expectations were not aligned from the start. 🔹 Frequency of Executive Status Updates – If stakeholders are always asking for updates, the communication process might be weak. 7. Agile Scrum-Specific KPIs 🔹 Story Points Completed vs. Committed – If a team commits to 50 points per sprint but completes only 30, they are overestimating capacity. 🔹 Sprint Goal Success Rate – Tracks how many sprints successfully met their goal without major spillovers. 🔹 Number of Bugs Found in Production – Helps measure the effectiveness of testing. PS: Forget CPI and SPI - I just check time, budget, and happiness. Simple and effective! 😊

Most leaders obsess over hiring. Few think deeply about how people leave. Yet departures define leadership more than arrivals ever will. Because everyone is watching. The leaver. The team. The market. Because redundancy is not only a financial event. It’s a human event. Handled poorly, it breeds bitterness, fear, and long-term brand damage. Handled well, it creates dignity, trust, and even future allies. I call this the High-Dignity Departure. After 20 years leading teams and coaching CEOs, I’ve seen what makes the difference. It comes down to 7 practices that any leader, in any organisation, can apply: 1. Kindness in Clarity → Ambiguity hurts more than the news itself → Say the business reason first, then the individual impact 2. One Human Conversation → This is one of the most memorable conversations of their life → Show up yourself. Don’t delegate it away. 3. Support with Dignity, Not Pity Not every org can afford rich packages, but every org can offer agency 4. Craft Their Story, Together → Help them leave with a narrative they can share with pride → Career confidence is often the first casualty 5. Recognise Before You Release → Contributions unacknowledged = culture undermined → Recognition costs little, returns a lot 6. Departures as Bridges → Most leaders treat redundancy as an ending → Smart leaders treat it as the start of an alumni relationship 7. Follow Up After the Silence A 30-word check-in 6 months later can mean more than any package. Small act, massive impact. The result? Leavers feel respected and supported. Leaders build credibility, protect time, and create future allies. That’s the Dignity Dividend. Months later, the best feedback you’ll ever get is simple: “It was hard, but they treated me with respect. I’d work with them again.” Leaders: departures are not the end of leadership. They’re the ultimate test of it. Agree? Disagree? --------------------------------- ♻️ Repost this to help others, too. And follow Phil Hayes-St Clair for more. 📌 Want cheat sheets like this each week? Subscribe here: https://philhsc.com

62 billion kg of e-waste in 2022. Only 22% was recycled. That’s 48 BILLION KGs.. ...either dumped, burned, or forgotten in storerooms. The real issue? Most firms don’t track what they own. Discarded switches, laptops, and servers become invisible liabilities. E-waste isn’t just an environmental issue. It’s a failure in governance, process, and accountability. The solution isn’t new technology. It’s: Better records Smarter workflows Certified partners... ...who show up with trucks and certificates You can automate IT asset disposition inside ServiceNow or OTRS Group. ▸Set end-of-life triggers. ▸Attach recycling certificates. ▸Report WEEE compliance directly. Enviroserve UAE and Sims Limited India are certified ITAD partners. Dell Technologies, Lenovo, and Huawei run take-back schemes with secure data wipes. Do this ↬ Catalogue every IT asset. ↬ Assign an owner and disposal date. ↬ Automate disposition in your ITSM tool. ↬ Partner only with certified e-waste recyclers. ↬ Refurbish and reissue internally where possible. ↬ Use OEM programs to close the loop securely. E-waste is not someone else’s problem. It’s your hardware lifecycle. And ESG recovers real asset value. Track it. Reuse it. Prove it. Save this if you manage infrastructure.

US #CISA has released a summary of #Risk and #Vulnerability Assessments for FY2023, and it's an excellent guide on how to mitigate the most common threats. The release has an infographic (attached) as well as a longer form PDF report (linked). The conclusions are not surprising, but the data points are useful to validate your assumptions with quantified observations. Some key takeaways: 🚩 Valid Accounts (MITRE ATT&CK technique T1078) are the most common initial access vector, seen in 41% of attacks - we could assume that this means either default passwords or credential theft are being utilized 🚩 Spearphishing variations were the next most prevalent initial access vector, highlighting the importance of email security 🚩 Valid Accounts are also the most widely used persistence and privelege escalation method, at 42% and 45% respectively - highlighting the need to monitor IDAM, manage privileges effectively, and look for anomalous behavior 🚩 Pass the hash, pass the ticket, and RDP were most common lateral movement techniques observed There's a lot more useful information in the report - worth a read!

PRODUCTION PERFORMANCE ACTIVITIES: 1. Productivity Improvement: OEE Monitoring – Tracks machine availability, performance, and quality. Line Balancing – Distributes tasks evenly to reduce idle time. Cycle Time Reduction – Minimizes time per unit. Kaizen – Ongoing small improvements by operators. Time & Motion Study – Removes wasted motion. Bottleneck Removal – Use VSM, Takt Time, TOC to fix constraints. 2. Quality Improvement: First Pass Yield – Measures products without rework. In-Process Checks – Ensures quality at every step. Root Cause Analysis – Identifies defect causes (5 Whys, Fishbone). Poka Yoke – Error-proofing devices or techniques. Defect Analysis – Tracks trends and types of defects. 3. Cost Reduction: Material Yield – Reduces scrap and wastage. Energy Monitoring – Cuts power cost per unit. Tool Life Management – Lowers tool costs and downtime. Inventory Control – Uses FIFO, Kanban to manage stock. Lean Waste Removal – Eliminates non-value-added work. 4. Delivery Improvement: OTD Tracking – Measures actual vs. planned delivery. Production Scheduling – Aligns with customer demand. SMED (Quick Changeover) – Reduces setup times. Logistics Optimization – Streamlines material flow. 5. Safety Enhancement: 5S Implementation – Clean, safe, and organized workplace. Safety Audits – Identify and reduce risks. Incident Tracking – Record and act on near-misses. Safety Kaizens – Employee-led safety improvements. 6. Morale & Engagement: Daily Meetings – Share targets and issues. Suggestion Scheme – Reward employee ideas. Skill Matrix – Enable cross-training and flexibility. Recognition Programs – Appreciate team achievements. 7. Environmental Improvement: Waste Segregation – Improve recycling. Utility Savings – Conserve water and energy. Emission Control – Reduce dust, noise, fumes. Green Practices – Use eco-friendly materials/processes. Supporting Activities: Hourly Boards & Dashboards – Monitor daily performance. Tier Meetings – Escalate and solve issues. SOP Audits – Ensure process compliance. Gemba Walks – Management on the floor to guide teams.

𝗙𝗼𝗿 𝗼𝗽𝘁𝗶𝗺𝗮𝗹 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗲𝘀 𝗴𝗲𝘁 𝘁𝗵𝗲 𝟱𝗣'𝘀 𝗿𝗶𝗴𝗵𝘁 You don't need a complex formula to achieve great process outcomes. Instead, leverage a simple framework to ensure alignment with strategic business objectives and effectiveness. Get the mix of the 5P's right for your specific context and industry to orient your processes to your organisational reality, as highlighted with Procurement examples: 1️⃣ 𝗣𝘂𝗿𝗽𝗼𝘀𝗲-𝗗𝗿𝗶𝘃𝗲𝗻 Align processes with the strategic goals and objectives of the organisation. Ensure that process steps contribute to achieving long-term business success such as covering Environmental & Sustainability goals in Sourcing practices. 2️⃣ 𝗣𝗿𝗶𝗻𝗰𝗶𝗽𝗹𝗲-𝗹𝗲𝗮𝗱 Establish clear and transparent design criteria and procedures that promote simplicity, transparency and accountability. This includes guidelines, policies and well-documented processes framing expectation & values, such as in a Supplier Code of Conduct or evaluation criteria for new Procure Tech. 3️⃣ 𝗣𝗲𝗼𝗽𝗹𝗲-𝗖𝗲𝗻𝘁𝗿𝗶𝗰: Procurement processes are designed by people for people. Focus on the end-user journey by understanding needs, pain points, and workflows to enhance their experience and productivity through thoughtful process & system design. Focus on high usability and reduction of process friction in eProcurement tools. 4️⃣ 𝗣𝗼𝘄𝗲𝗿𝗲𝗱 𝗯𝘆 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆: Leverage digital tools, automation, and AI to streamline operations, reduce manual tasks, and enable data-driven decision-making. Take the robot out of people and enhance their efficiency providing valuable insights through advanced analytics for business partnering, cost target modelling and decision-making. 5️⃣ 𝗣𝗿𝗼𝗮𝗰𝘁𝗶𝘃𝗲 𝗣𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲 𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁 Adopt a mindset of continuous improvement. Regularly review and update procurement processes to adapt to changing business environments, incorporate feedback, innovation and audit results. Deploy KPI's and metrics and regular review of effectiveness and action plans to elevate your process maturity. Great processes are built on clear principles, centred around people, empowered by technology, and continuously improved through proactive performance management. 👉🏼But above all - 𝘁𝗵𝗲𝘆 𝗰𝗿𝗲𝗮𝘁𝗲 𝗮 𝘀𝘁𝗿𝗼𝗻𝗴 𝗹𝗶𝗻𝗸 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗴𝗼𝗮𝗹𝘀 𝗮𝗻𝗱 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗲𝘀. ❓What else would you add for optimal process design Share this post if you found it useful. #processexcellence #procurement #continuousimprovement #businessprocessmanagement