Here are our normal best practice recommendations:
Here’s the essential differences between closing a project and deleting a project.
- Closing a project mostly just resets the status and it is still an accessible project in the db. Expiration notices and most other tasks will stop any activity although Notification Tasks will continue to be active. A Closed project can be Administratively amended and can be reopened by full Amendment.
o We recommend that all projects that have reached the end of their term, i.e. are expired, either be renewed or closed.
o We also recommend that you set up a Notify task (or even include it in the template) according to the retention policies of your corporation. When this task is activated, an administrator should delete the project.
- Deleting a project creates a stub in the db. The full discussion starts on Page 44 of the Creating and Managing Projects guide. However, here’s the summary of what happens when you Delete a project. After you delete a project, you need special permission to even find the stub. See attached screenshot from the documentation:
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In line/addition to what Leslie has stated, you must close the contract workspace if an when you are sure that your organization is not going to renew the contract which is expired. Especially master and standalone contract hierarchies are the ones that would generally need a call to be taken for a renewal or closing as soon at they expire or are no renewal notice.