The final phase of the project life cycle is terminating the project. When a project is completed, certain close-out activities need to be performed, such as confirming that all deliverables have been provided to and accepted by the customer, that all payments have been collected, and that all invoices have been paid. An important task during this phase is evaluating performance of the project in order to learn what could be improved if a similar project were to be carried out in the future. This phase should include obtaining feedback from the customer to determine the level of the customer`s satisfaction and whether the project met the customer`s expectations. Also, feedback should be obtained from the project team in the form of recommendations for improving performance of project in the future.