Final answer:
The phase in project management where key stakeholders formally inspect and accept project deliverables is known as 'validating scope'. During this phase, stakeholders review the deliverables to ensure they meet the criteria and provide final acceptance before the project moves on.
Step-by-step explanation:
Project Deliverables Validation Phase
The action that involves normalizing acceptance of the project deliverables, where key project stakeholders such as the customer and sponsor of the project inspect and then formally accept the deliverables, is known as validating scope. During this phase, stakeholders are engaged to ensure that the outcomes meet the agreed-upon criteria. Feedback from stakeholders is crucial, and it is often gathered through reviews, inspections, or audits. This phase assures the deliverables align with customer needs and expectations, following the detailed planning and execution that has taken place thus far in the project lifecycle.
It's important to note that the validating scope process is part of the monitoring and controlling process group within project management practices. Ensuring buy-in from all parties and addressing emerging issues is vital during this stage. If there are staff changes or any other kind of turnover, this phase helps in communicating the current project status and re-affirming acceptance of the deliverables.
Defining scope is earlier in the process, where the project's boundaries and deliverable requirements are determined, whereas controlling scope refers to the management of scope changes throughout the project. However, the action in question – the formal acceptance of deliverables – is specifically part of the validating scope process.