What does 'lessons learned' refer to in project management?

In project management, 'lessons learned' specifically refers to insights and knowledge acquired during the execution of a project that can inform and enhance future projects. This concept emphasizes the importance of reflecting on experiences—both successes and failures—to create a repository of information that can guide future planning and execution. By documenting these insights, project managers and teams can identify what worked well and what did not, allowing them to replicate successes and avoid repeating mistakes.

The process of collecting lessons learned typically occurs throughout the project lifecycle and culminates in a comprehensive review at the project's conclusion. This practice not only contributes to continuous improvement but also supports knowledge transfer within and across organizations. By leveraging these insights, organizations can increase efficiency, boost team performance, and enhance overall project outcomes in future endeavors.