According to the PMBOK® Guide, a project is defined as a temporary endeavor undertaken to create a unique product, service, or result. The " temporary " nature of a project indicates that it has a defined beginning and end.

Reaching the End: A project reaches its conclusion when the project objectives have been achieved. This is the primary success criterion. If the goals outlined in the Project Charter and Scope Statement are fulfilled, the project work is technically complete.

Other Reasons for Termination: A project may also be finished if:

The objectives cannot be met.

The need for the project no longer exists (e.g., the customer no longer wants the product or the strategy has changed).

The funding is exhausted or no longer available.

Transition to Closing: Once the objectives are met, the project enters the Close Project or Phase process. This is where the administrative work happens to formally shut down the project.

Objective Achievement vs. Administrative Closure: While reaching objectives signifies the end of the project work, the project is not " officially " closed in the organization ' s records until administrative tasks (like final reporting and archiving) are finished. However, the definition of project completion is fundamentally tied to the status of its objectives.

Comparison with other options:

A. After verbal acceptance of the customer or sponsor: Verbal acceptance is insufficient in professional project management. Formal, written sign-off is required during the Validate Scope process to formalize acceptance of deliverables.

B. After lessons learned have been documented in contract closure: Documenting lessons learned is a critical activity within the Close Project or Phase process, but it is a part of the closing activities that happen because the project objectives were met or the project was terminated.

D. After resources have been released: The release of resources (staff, equipment, facilities) is one of the final steps in the Closing process. Like lessons learned, this is a procedural consequence of the project being finished, not the definition of its completion.