Final answer:
Closing a project by completion means that a project has successfully achieved its goals and there is no need for further work. Completion is the most desired outcome in project management, signaling that all objectives and deliverables have been met with stakeholder approval. The correct answer is option o addition
Step-by-step explanation:
Closing a Project by Completion
When discussing the process of ending a project, the term that best fits the scenario where a project is successful and achieves its goals, thus requiring no further work, is completion. In the business and project management realms, closing a project by completion implies that all project objectives have been met, deliverables have been handed over, and the final sign-off has been received from stakeholders. It is the most desired outcome, symbolizing that everything that was set out to be done has been accomplished to satisfaction.
On the other hand, closing a project by integration may refer to the incorporation of project outcomes into existing systems or frameworks. Addition generally implies an increase or expansion, which does not fit the context of project closure. Extinction implies that a project is ending because it is no longer viable or relevant, potentially due to market changes or internal shifts within a firm, not because it has successfully achieved its goals.
As our initial information suggests, there are instances in business where it may make more sense for a firm to close, rather than continue operations. This is usually considered under circumstances where continuing would not be cost-effective or strategically sound. However, this context refers to the cessation of business rather than the successful completion of a project.