The dissolution of Virtual Organizations is not just a stage where the commitments between the partners take to an end, but an issue that is worth considering through all the life cycle in Virtual Organizations. This paper gives further light to the model of Virtual Organizations split in several phases, detailing their roles and significance, and explaining from previous experiences why the dissolution has to be carefully planned fairly in advance. The key elements for managing the dissolution of virtual organizations are described, and further evidence on how they can have positive influence to the performance of Virtual Organizations, are contributed highlighting the phase’s significance.