The course is called Info Technology Contract Mgmt (ITM 471), and the assignment is about contract closeout.

1. Assume that you have implemented a payroll system for the entire company. You need to close out the contract with the services company Infinite Payroll that implemented, trained, and modified the payroll system at your company. Assume also they did an admirable job, and you are satisfied with their work.
2. Include a detailed two-page document on the ways to close out this contract.

I have included screenshots from the textbook with notes. Thanks.

Chapter 7: Contract closeout Contract closeout is the final opportunity to confirm that all contract requirements are satisfactorily fulfilled. The organization must adopt a formal written closeout procedure upon project completion to ensure that all important elements have been verified. Thelevel of complexity of a contract determines the complexity of the closeout procedure. Based on the contractual work, the steps in closeout procedure can be related to performance monitoring or administrative in nature. Checking against a comprehensive checklist of closeout procedures will ensure that all activities have been carried out successilly. Following is a generic closeout checklist that provides a list of common activities, carried out in almost every contract, for verication. All deliverables mentioned in the contract have been made Any additional action required for a contract activity has been delivered Acceptable standards of deliverables Invoices paid All property has been returned in acceptable condition No pending legal proceedings All physical submissions (reports, training manuals etc) have been made I All classied materials have been submitted I All company properties have been returned I Pending payments have been settled Evaluation of vendor performance and effectiveness of organization's monitoring method should follow a contract closeout to record lessons learnt for future reference and to determine whether the vendor should be engaged again, should there be a need. Any evaluation conducted post contract closure is not a new activity but a final assessment of all observations made during the monitoring process