Which of the following activities would be performed during the project closure phase when the waterfall methodology is being used?

The activity of validating project deliverables is a critical step performed during the project closure phase in the waterfall methodology. This phase focuses on ensuring that all project deliverables meet the specified requirements and are completed to the satisfaction of stakeholders. Validating deliverables involves reviewing completed tasks, obtaining final approvals, and ensuring that everything aligns with the initial project plan and scope. It is a vital part of confirming that the project's objectives have been achieved and that stakeholders are satisfied with the outcomes.

In contrast, assessing project risks, drafting the project charter, and developing project schedules are activities typically associated with earlier phases of the project lifecycle. Assessing risks is most relevant during the planning phase, where risks are identified, analyzed, and mitigation strategies are established. Drafting the project charter occurs at the initiation phase as it defines the project's objectives, scope, and stakeholders. Developing project schedules is part of the planning process as well, where timelines and milestones are created to guide project execution. Therefore, these activities do not align with the closure phase, making validating project deliverables the correct activity for that stage in the waterfall methodology.