Closing a project involves coordinating several activities rather than completing one final task. Effective project closure process planning can help teams confirm deliverables, resolve outstanding issues, complete financial and contractual activities, transfer responsibilities, and release resources. Stakeholders should understand when the project is formally considered complete. A defined closure process reduces the likelihood of important tasks being overlooked. It also creates a more controlled transition into operations or future work.
http://www.uniccm.com/project-closure-process