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Closeout is the term used to represent the actions taken at the end of a project, which is reached at the end date reflected in the award document. If no additional time or funding is needed to complete the project tasks and objectives, the award must be closed in a manner described below, a process made easier by good award management over the life of an award. The Principal Investigator (PI), the Local Research Administrator (LRA), Central Pre-Award Office, and Central Post-Award Office partner for timely closeout process.