Contracts are closed as part of the Control Procurements process. In the video, Cornelius stated "This process also closes all contracts," when for clarity he should have stated that this process (the Close Project or Phase process) finalizes or formalizes the completion of all contracts."
Thank you for pointing this out so we can make this update.
Yazmine Darcy, PMP, PMI-ACP, CSM
Director of Operations
OSP International LLc
Lesson L04.07 Close Project or Phase - Part 1 at 2:57 into the lesson, Cornelius states that "This process also closes ALL contracts... this includes contracts with vendors, sellers, and customers..."
On the PMP Exam Simulator #1, Question ID: 612221 correct answer indicates "Closing seller contracts is performed during the Control Procurements process, not as part of the Close Project or Phase process..."
Can someone explain this to me, as I find this very confusing.
Training for Project Management Professional (PMP)®, PMI Agile Certified Practitioner (PMI-ACP)®, and Certified Associate in Project Management (CAPM)®
