zakończenie finansowe realizacji projektu
English translation: financial closure
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| 04:34 Jun 19, 2015 |
| Polish to English translations [PRO] Bus/Financial - Business/Commerce (general) | |||||||
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|  Selected response from: Karol Kawczyński Poland Local time: 04:56 | ||||||
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| 3 +2 | financial closure |
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Answers
2 hrs confidence: 
peer agreement (net): +2
peer agreement (net): +2financial closure Explanation: https://ocio.wa.gov/pmframework/closure/financial Definition Financial closure is the process of completing all project-related financial transactions, finalizing and closing the project financial accounts, disposing of project assets and releasing the work site. Why is this important? Financial closure is a prerequisite to project closure and the Post Implementation Review (PIR). A project cannot be closed until all financial transactions are complete, otherwise there may not be funds or authority to pay outstanding invoices and charges. Financial closure establishes final project costs for comparison against budgeted costs as part of the PIR. Financial closure also ensures that there is a proper disposition of all project assets including the work site. |
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