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The financial closeout of a project dictates that?

 

A. All of the other alternatives apply.

B. All project funds have been spent.

C. No charge numbers have been overrun.

D. No follow-on work from this client is possible.

E. No further charges can be made against the project.

 

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Question added by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.
Date Posted: 2017/06/03
Muhammad Farooq
by Muhammad Farooq , QA-QC MANAGER , AL Bawani contracting co.

E. No further charges can be made against the project

Krishna   KHASANIS  PMP
by Krishna KHASANIS PMP , Project Manager-Electrical , Larsen & Toubro Ltd, P T & D (International)

I will go with option E - No further charges can be made against the project .

Zaferullah Sharief, PMP®
by Zaferullah Sharief, PMP® , Project Manager , Huawei Technologies

Option E is the correct choice.

Aneesh Shandilya
by Aneesh Shandilya , Manager/ Lead Electrical , Orpic

Option E - No further changesd can be made against the project after Financial closeout.

Atiqul Alam
by Atiqul Alam , Project Manager , General Electric

1) All the deliverable in terms of supply and services have been completed.

2) All accounts have been reconciled.

3) Client has accepted the project in full and doesn't need any modification or improvement.

4) No further cost is expected to be spent in the project.

5) No further payment is expected from the client.

6) All claims / changes are settled.

7) All risk ans opportunities are closed.

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