Abbott Project Management Playbook

• Governance requirements apply to projects $2.5 MM and over

Project “Complete” means: • All commitments have been made and all work is done • All confirmations have been processed (material) • All invoices have been accepted (service) • All assets are available for use as of the date indicated and are ready to be transferred to final fixed assets • All stakeholders have accepted the project • All asset information has been provided to PAAS (Project Accounting) o For AN and GES this means that the Asset Information Form (AIF) is in Share Point and is in its final form (with the exception of capitalization data which is the responsibility of PAAS). o For Divisions not using the AIF, the information is to be provided through the customary forms agreed to by Division and PAAS • All work orders have been closed

Project “Closed” means: • No further commitments, spending or capitalization activities take place • All assets have been capitalized • All spending (payments made against commitments) is complete • Project should be closed within 90 days of being “Complete”

Project Closure provides a good opportunity to: • Capture project metrics (Final Cost/Schedule Accuracy; Change Orders; Right First-Time tracking may begin)

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