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The project closing process group entails 7%, or 14 questions, of the PMP exam. Project closing is where you officially end a project phase or the project itself, release all the resources that were assigned to your project, and build reference material for coming projects. In addition, this is the process group where you get to organize and document all plans versus actual performance data. The road to this point has been about keeping focus, control, and processes optimization. Project closing ensures that the other side of the bell curve of execution looks the same way as when you started the process. Simply put, this is where you wrap up the project and tie up all the loose ends.
Look at is from this perspective; if you would have known everything that you know today about your project(s) when you started, would you have done things the same way? Would you have used the same resources?