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Definition: A complete set of indexed project records should be prepared for archiving by the appropriate parties. Any project-specific or program-wide historical databases pertinent to the project should be updated. When projects are done under contract, or when they involve significant procurement, particular attention must be paid to archiving of financial records.

Acceptance Level:  Generally accepted

Alternative or Related Terms: Administrative closure; contract closeout; contract file

Application Areas/Intended Uses: Project archives are an output of the administrative closure process.

Chief Advantages: Project archives are essential to providing accessible historical information on all aspects of a project, in the event of disputes over work performed or other legal issues, and as a source for information used in identifying lessons learned.