Which activity is part of the project closing phase concerning financial matters?

In the context of a project closing phase, returning excess materials is a key financial activity that ensures the project remains within budget and properly manages resources. This step is critical as it allows organizations to reclaim value from materials that were not utilized during the project, which directly impacts the project's financial health.

By returning excess materials, organizations can prevent unnecessary waste, reduce costs, and maintain efficient resource allocation for future projects. This activity is aligned with project closure principles, as it not only finalizes financial matters but also signals the formal end of procurement activities related to the project.

In contrast, developing project scope, conducting risk assessments, and establishing team roles are activities that typically occur in the earlier phases of project management. These processes are focused on planning, execution, and monitoring rather than finalizing financial matters, making them less relevant to the closing phase where financial reconciliation and resource return are prioritized.