According to the PMBOKGuide, the project manager is responsible for closing the project or phase, which includes verifying that all the project deliverables are completed and accepted, updating the project records and documents, releasing the project resources, and communicating the project closure to the stakeholders.
Performing administrative closure of the project ensures that the project is formally completed and closed, and that the project budget is finalized and closed as well. This will prevent any confusion or issues with the accounting manager or other parties in the future. Conveying task completion information to accounting may be part of the project closure process, but it is not sufficient to close the project budget. The project manager should also update the project status, financial records, and lessons learned. Closing the procurement process properly is necessary for projects that involve contracts or agreements with external vendors or suppliers, but it is not the only aspect of closing the project. The project manager should also close the internal aspects of the project, such as deliverables, resources, and stakeholder satisfaction. Completing the transition process is relevant for projects that produce products, services, or results that need to be transferred to the operations or maintenance teams, but it is not the only activity for closing the project. The project manager should also ensure that the project objectives are met, the project scope is verified, and the project performance is evaluated. References: PMBOKGuide, Sixth Edition, Chapter 4, Section 4.7 (Close Project or Phase) and Appendix X3, Table X3-1 (Project Closure Checklist)