Formalize Experience

Explanation

The process of formalizing experience can be initiated once a project is closed. This is a crucial task enables the team to learn from past mistakes and apply this knowledge to future projects. The method of formalizing the experience is entirely up to your organization.

We recommend documenting the experience using a document management system, such as the IFS Document Management component. It’s important to share this information with all project members. While project managers play a crucial role, it’s equally important for all project members who perform the work to participate in this process. The project manager should ensure that all project members have access to the formalized experience document. This will help spread the lessons learned throughout the organization, enabling these insights to be applied to future projects.

When formalizing the experience, you could consider the following aspects of the project:

• Project Objectives and Scope: Were the project objectives met? How effectively was the project scope managed? Were there many changes to the project scope?
  
• Project Schedule: Was the project completed on time? If not, what were the causes of the delays?
  
• Analysis of Activities: Which activities were the most challenging? Identify the activities that caused delays or increased costs.
  
• Cost Management: Did the project stay within budget? How did the Actual values compare to the Estimated and/or Planned values? Did the project adhere to the planned values for hours, material, work, and miscellaneous aspects? If not, identify the discrepancies and the reasons behind them.
  
• Quality Management: Was the quality of the project’s deliverables up to the mark? If not, what were the quality issues?
  
• Risk Management: How were risks managed during the project? Were there any unforeseen risks that occurred?
  
• Contract Management: How effectively were subcontractors managed? Were contracts handled efficiently and were all contractual obligations met?
  
• Stakeholder Management: How effectively were stakeholders managed? Were their expectations met?
  
• Lessons Learned: What were the key lessons learned from the project? How can these lessons be applied to future projects?

Prerequisites

The project should be Closed.

System Effects

Not Applicable.