Identify and discuss the tasks associated with the close-out of procurement contracts.
Discuss the termination of contractual relationships and settlement of seller claims.
Explain how to determine if all requirements of a procurement contract have been fulfilled by the buyer and the seller.
Present a flowchart showing how to properly close-out a contract.
Discuss how invoices that have not been submitted by vendors or that have been submitted by vendors but not yet paid should be handled.
Identify any three of the questions listed in the “procurement management conformance” (Westland, 2007) checklist found on page 213 of the book “Project Management Life Cycle: A Complete Step-by-Step Methodology for Initiating, Planning, Executing and Closing a Project Successfully” (2007) and reflect on the importance of asking these questions when closing procurement contracts and completing the project.