--- title: "The Portfolio Lifecycle: Stage 4 – Review" description: All portfolio projects have been completed and closed out.  This brings the entire portfolio to a close, and now is the time to review and close out.     This stage has three steps, listed as tabs acr --- [Skip to content](https://support.surepact.com/the-portfolio-lifecycle-stage-4-review-1#main-content) English Show submenu for translations [Submit a ticket 🎫](https://support.surepact.com/kb-tickets/new?hsLang=en) [Customer portal](https://portal.surepact.com/tickets-view?hsLang=en) ![0224\_Surepact\_Logo-Primary-1.png\]](https://support.surepact.com/hs-fs/hubfs/0224_Surepact_Logo-Primary-1.png?height=43&name=0224_Surepact_Logo-Primary-1.png) Open main navigation Close main navigation - English Show submenu for translations - [Submit a ticket 🎫](https://support.surepact.com/kb-tickets/new) - [Customer portal](https://portal.surepact.com/tickets-view) - Visit our website! Visit our website! Hello. 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[Portfolios](https://support.surepact.com/portfolios?hsLang=en) # The Portfolio Lifecycle: Stage 4 – Review All portfolio projects have been completed and closed out.  This brings the entire portfolio to a close, and now is the time to review and close out.   ![](https://support.surepact.com/hubfs/Knowledge%20Base%20Import/surepact.zendesk.comhcarticle_attachments8870709233551-3.png)   This stage has three steps, listed as tabs across the top: - [Step 1 – Risk Review](https://support.surepact.com/the-portfolio-lifecycle-stage-4-review-1#RiskReview) - [Step 2 – Closeout](https://support.surepact.com/the-portfolio-lifecycle-stage-4-review-1#Closeout) - [Step 3 – Archive](https://support.surepact.com/the-portfolio-lifecycle-stage-4-review-1#Archive)     ### Step 1 – Risk Review The purpose of this step is so that the Portfolio Manager can compare the initial assumed risk with what actually happened.  At the bottom of this tab, you’ll find the initial risk rating assigned to the portfolio. You can change these ratings to reflect new realities. If changes are made, be sure to click **Save Risk Rating**.  ![](https://support.surepact.com/hubfs/Knowledge%20Base%20Import/surepact.zendesk.comhcarticle_attachments8870709234447-3.png)     Back at the top of this tab, you can expand the **Approval Status List** to see who approved the original risk profile. To complete this step, enter a note and click **Request Approval**.   ![](https://support.surepact.com/hubfs/Knowledge%20Base%20Import/surepact.zendesk.comhcarticle_attachments8870733446799-3.png)     The approval task then goes to the Portfolio Risk Approver. The risk profile acceptance now appears in the **Approval Status List**, and the approver can approve, reject, and submit. ![](https://support.surepact.com/hubfs/Knowledge%20Base%20Import/surepact.zendesk.comhcarticle_attachments8870733447951-3.png)   ### Step 2 – Closeout To close out the portfolio, just enter a summary and click **Submit Closeout Stage**. ![](https://support.surepact.com/hubfs/Knowledge%20Base%20Import/surepact.zendesk.comhcarticle_attachments8870733449743-3.png)   ### Step 3 – Archive When the portfolio is complete, and is no longer needed for reference, you can archive it. 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