Project Management

End of Defects Financial Closure

Description

The project, unless under exceptional circumstances, should be closed after the retention period, normally 12 months after practical completion. 

Engagement 

The Project Manager is to notify the Capital Accountant and Head of Cost Management following the end of defect period for the relevant project. 

Forms & Links 

  • Financial Close Out Form:

Approvals & Compliance

The Project Manager is to confirm with the Capital Accountant that the project can be closed, and will complete the Financial Close Out Form. 

The Project Manager will request the Capital Accountant to provide a PO report for any open POs, if there are open POs - liaise with the Capital Accountant and arrange for them to be closed or invoiced against. 

The Capital Accountant is to contact the "Account Code Change" to close the C code. 

The Head of Cost Management is to update C Code List column to "Activity Code Closed on Oracle platform".

Project File Archived

Description

When the project file is closed, it is prepared for archive in line with 51³Ô¹ÏÍø's Data Retention policy.

Transfer of the project file enables: 

  • Appraisal of the content and registration on 51³Ô¹ÏÍø's central archive database
  • Removal of any final external and internal collaborators
  • Prevents GDPR breaches of personal data contained within the file
  • Facilitates secure access and analysis of the content for legal, audit, governance of future projects' use
  • Reduced digital footprint and ease of navigation to live project files
  • Enables a final check for missing or additional required information

Upon notification that the F05 Financial Closure Form has been issued to finance, the project file is moved to a provisional holding area on Box - pending review of the contents. Project files are reviewed and archives as described in the Records Management policy (link below - refer to Section 11.5 and 11.6 of the policy for details). 

For Residential buildings under the Building Safety Act, a report of the file's contents is issued to the BSA advisor and information required for continued access under the Act is copied to the golden thread for that building. 

Live projects are reviewed on a regular basis, and where there has been no activity for over 2 years, project files are transferred to the holding area for review, confirmation that the project has been closed will be requested from the Project Manager where practical. 

To access archived files, the requester contacts the Records & Archives Officer (or ACRU in their absence) for a report to be generated from REMAS. Requested documents or folder can be selected from the report and uploaded to Box for Viwer access for the agreed period of time.

For project files still in the holding area, Viewer acess can be given upon request for the required period, and review will be postponed until the access period has completed. 

Any requests for information of a sensitive/confidential nature may require further approval. Requests for information under the Freedom of Information Act will be managed via the FOI Team. 

Engagement

Project Manager to notify the Records & Archives Officer when the project file can be closed

The Records & Archives Officer will consult with ACRU, Legal and the Project Manager (where practical) for any quereies relating to the retention of records. 

Forms & Links

Approvals & Compliance Review

Files are reviewed and managed in accordance with 51³Ô¹ÏÍø's Data Retention Policy.