The project termination letter template is a business letter which is given when an individual or company decides to dismiss the project for definite reasons. Whereas, a project may refer to any work or assignment that a group of people or any company undertake and complete under a given period of time. This project is fully functional and managed by a team of individuals who review the project work and the processes involved. Due to this dismissal of the project, proper notice must be given to the individuals working under it and explain to them the reasons in an understanding and apologetic tone.
Importance of Project Termination Letter:
A company or an individual may pull back from a project due to reasons including lack of proper management, technical issues, the end results may seem unclear, the revenue cost may be too expensive or lack of customer care and lack of project planning. A termination plan is sometimes too much to handle for any individual or team leading the project. Although project termination along the course of its development can become inevitable, it can be prevented by taking certain measures. The individual or the project team can come up with something to prevent its discontinuation. On the other hand, if the project dismissal is best for the team, then they should not hesitate and take the right step.
Different Categories of Project Termination Letter:
Natural termination of a project refers to the closing of a project as the aims and purposes of the project have been completed. Natural termination refers to the natural completion of a project. On the other hand, unnatural termination of a project refers to when an individual or company pulls off before the completion of a project and chooses not to invest further time, resources and money that is required to complete the project.
Different Ways of Project Termination Letter:
Project termination by extinction: Termination by extinction happens either in two cases, either if the project has been stopped due to its successful outcome or because of its unsuccessful results. The successful outcome may refer to when the project has been completed, leaving the client satisfied with the results. On the other hand, unsuccessful results may indicate if the project has been stopped due to any definite crisis.
Project termination in addition: In most cases, the project undergoing development is so ‘in House’, which refers to the fact that the project worked on by the project team will be officially used by the parent organization or the parent company.
Project termination by integration: In this type of terminal, the project loses its individual identity and purpose only to be redistributed to become a part of a larger project that may be ongoing. The project may also be interested in another project that is being planned or underway in its process.
Project termination by starvation: Termination by starvation is the act of depriving a project of basic needs that are required to replenish and sustain a building’s growth. The deprivation may be due to several reasons, including political issues, financial issues or lack of sponsors.
Templates for Project Termination Letter:
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