Capturing Lessons Learned

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There are well-defined events that mark the termination of a risk management implementation project. Obviously, as a hired consultant, the end of the project coincides with the completion of the contract and acceptance of the delivered products and services. Internal to an organization, a risk management practice may terminate at the end of a project phase, with a shift of business focus, or even with a change in organization leadership. This does not necessarily mark the end to risk management, but rather the beginning of a new risk management implementation project resulting from significant changes in success criteria. At this point it is appropriate to capture lessons learned for use on the next project.

Capturing lessons learned requires a retrospective examination of the risk management implementation project and documenting successes and shortcomings. One should also capture a project archive of plans, training materials, meeting agenda, risk information, and other materials. These materials become reference for future risk management implementation teams. Lessons learned are especially useful in refining the risk management implementation roadmap.