The final phase of a project is Termination. This phase involves finalizing all project activities, deliverables, and documentation to ensure they meet the project requirements and standards. It’s the phase where the project is formally closed and a final review is held to learn from the successes and mistakes, which is then taken forward to the next project. References: = This information aligns with the practices described in resources about Project Portfolio Management (PPM) and is consistent with the guidelines provided by the Project Management Institute (PMI)12.