Project Management in the Oil and Gas Industry

6.10 Closeout 
Report
The closeout report will be in the final stage of any big project and, thus, 
the report will be prepared internally by the owner project team and 
should also be done by the contractor and engineering firm. This report is 
very important critical for future projects and is a main part for the cycle 
of continuous improvement. In most owner companies, after the com-
missioning and start up of the project, there will be a meeting for all the 
team members and a light workshop will present the advantages and dis-
advantages for any part of the project such as construction, engineering, 

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Tendering, Bidding, and Contract Traps 209
procurement, HSE, contracts, planning, and other main activities. After 
this brainstorm meeting, collect all the data in a final report, which is the 
closeout report.
The characteristics of a final report are the following:
• It is prepared at the end of the project.
• It is prepared by the technical office, the planner, and costs 
control engineers.
• It is reviewed by the concerned departments and the final 
audit is done by the project manager.
Basic elements of the report include the following:
1. Introduction 
2. Background on the project and its objectives
3. The budget allocated for the project and the actual cost
4. The difference between the estimated and actual cost allowed
5. Evaluation of the performance of contractors and suppliers
6. The final drawings correspond to the final situation on site 
(as built drawings)
7. Planning time at the beginning of the project has been mod-
ified in the time schedule
Table 6.6 Project closeout report preparation procedure.
What
This is a critical review of a project to assess both highlights and 
lowlights of project performance. This review should be used to 
ensure that lessons are learned and shared.
Why
To critically review project performance in all areas, i.e., schedule, 
cost, quality, etc. Good practices and outcomes should not be lost 
but should be shared with others. Less effective practices must be 
prevented.
How
For minor projects, the project leader should collate the report 
from core project members. For small/medium sized projects, a 
facilitated wash up session should be held to capture all aspects of 
project performance.