In Phase or Project Closure phase, can you close a project if the 3rd party contractor has not received payment? (For example, you have done all the paperwork to request payment, but the organization
I see my question was abbreviated. For example, you have done all the paperwork to request payment and met the requirements and everything else in the Closing phase), but your company has a 90 day payment policy. So, if you close the project before the vendor gets check in hand - can you still close the project? Saving Changes...
Vanaja KaragiannidisDr| Melbourne Institute of TechnologyCraigieburn, Victoria, Australia
Being assigned a project or projects ensures that you are trusted for project's success and completion. So After project execution begin preparing documentations to project closures and align your payments in correspondence to your project schedules closure. Project closure of your outsourcer is complete only after their project execution process is completed and payments received to accomplish your project completion with accomplishment of success.
I celebrate my project closure success after the following:
*Finished my project work and get formal acceptance for my deliverables
*Complete my final project documentation
*Complete my payments to suppliers
*Complete thanking my project team and what I have accomplished with members and contractors who finished and were paid for their skills, abilities and knowledge in doing the sections/segments of my projects.
*Finally Reflect and Apply the Lessons I have learned and Sustaining Goodwill so that my team-members and contractors are there when I need them next time.
HOPE WHAT I HAVE SHARED WITH YOU IS OF VALUE. Saving Changes...
A project is not considered closed if there is still outstanding commitments that need to be fulfilled, that being contractors who have not be paid. As such the payment to the contractor would be pending completion of the ninety day payment policy. You could try and speed up this process up by having the contractor paid sooner in order for you to close out your project. Saving Changes...
