When a company undertakes a project, it uses financial resources for a specific purpose and project completion reports are created to clarify some matters that are related to the outcomes of a project. A typical project completion report example features a number of points such as general project information, findings, administrative project closure, and recommendations. All these points have a purpose to summarize the results of a project along with pointing out some important aspects that include performance, costs, and overall evaluation. A project completion report example provides insights about the most common structure and contents of this type of professional business paper.
General Project Information
InGen Corp., the research and development department, has allocated $1,2 million for the project in order to develop a music player that would be the most suitable for the target audience, active people who are involved in the professional sports. Planned start date is 01/05/2017 and the planned finish date is 05/05/2017. The project funds were allocated to the temporary project team created from the inside personnel of the research and development department. The original budget was not exceeded and the planned deadline was met timely.
Project outcomes can be considered positive as the work group was able to identify the preferences of the target audience, which provided the required information and allowed the work group to successfully develop the most suitable design for the upcoming release of a new music player for active people. Additionally, it was found out that new design allows the company to save up to 30% of material expenses on each separate item. In order to complement the new design with an appropriate technical specifics, the company requires shrinking the size of the memory holder by 20%. As for the costs of development, the work group was able to stay within the limits of the $1,2 million budget and save $275 thousand. Saving was achieved because most celebrities that took part in the survey did not demand any kind of dividends.
Administrative Project Closure
After the prototype players were created, the project team delivered the blueprints to the main production line and it is capable of producing the new product without any additional adjustments or expenses. CEO confirmed that the new product meets all the requirements set by the research and development department, which allows starting the production by the end of the third quarter of 2017. During the work process, the team experienced an issue as system malfunction almost led to the information leak. Additionally, while the final list of the survey participants was already created by the start of the project, not all of them arrived.
The main recommendation for the project is to improve the stability and security of the internal network because it is not isolated this can lead to the information theft. IT department should solve the issue as soon as possible. Additionally, communications department should verify the number of participants several times before sending the final list to the project teams.