another activity that must be performed during the termination phase is assuring that all payments have been collected from the customer. many contracts include a progress payments clause,which states that the customer will make the final payments at the completion of the project.in some cases,the final payments is a high percentage (e.g.,25 percent) of the total project price.Similarly,it should be verified that all payments have been made to any subcontractors or consultants and for any purchased maceriais or items.Once all payments have been received and made,the project 'books,' all accounting records, can be closed, and the financial analysis of the project can be made, which actual costs are compared to the project budget.