In PRINCE2 7, the Closing a Project process includes two critical activities: conducting a Lessons Review and preparing for a Benefits Review. These elements ensure organizational learning and value realization from the project investment.
The Lessons Review involves systematically capturing and dā¦In PRINCE2 7, the Closing a Project process includes two critical activities: conducting a Lessons Review and preparing for a Benefits Review. These elements ensure organizational learning and value realization from the project investment.
The Lessons Review involves systematically capturing and documenting knowledge gained throughout the project lifecycle. This includes examining what worked well, what could be improved, and any recommendations for future projects. The Project Manager compiles lessons from all team members, stakeholders, and project records into a comprehensive Lessons Report. This document becomes part of the organizational knowledge base, enabling future projects to benefit from experiences gained. The review covers technical aspects, management approaches, stakeholder engagement, and any innovative solutions discovered during delivery.
The Benefits Review focuses on assessing whether the project has delivered its intended outcomes and value. Since many benefits materialize after project closure, PRINCE2 distinguishes between benefits that can be measured at closure and those requiring post-project assessment. The Project Manager works with the Senior User to identify which benefits are already achievable and documents plans for measuring remaining benefits. A Benefits Management Approach outlines how and when future benefits will be reviewed, who holds responsibility for measurement, and what metrics will be used.
The Benefits Review Plan transfers accountability to operational management or a designated benefits owner who will track realization over time. This ensures continuity between project delivery and ongoing value assessment.
Both activities support the PRINCE2 principle of continued business justification by demonstrating actual value delivered against the original Business Case. They also contribute to organizational maturity by building a repository of practical knowledge and establishing clear accountability for benefit realization. The Project Board must approve the final documentation before formal project closure, confirming that appropriate arrangements exist for capturing lessons and tracking outstanding benefits.
Lessons and Benefits Review in PRINCE2 Practitioner V7
Why is Lessons and Benefits Review Important?
The Lessons and Benefits Review is a critical component of the Closing a Project process in PRINCE2. It ensures that valuable knowledge gained throughout the project is captured and preserved for future initiatives. Additionally, it confirms whether the project has delivered the expected benefits or establishes a framework for measuring benefits that will be realized after project closure. This dual focus on learning and value delivery demonstrates organizational maturity and supports continuous improvement.
What is the Lessons and Benefits Review?
The Lessons and Benefits Review consists of two interconnected activities:
Lessons Review: This involves gathering, documenting, and analyzing lessons learned throughout the project lifecycle. These lessons encompass what worked well, what could be improved, and recommendations for future projects. The lessons are compiled into the Lessons Report, which is submitted to corporate or programme management.
Benefits Review: This activity assesses whether the project's benefits have been achieved as defined in the Business Case. For benefits that can only be measured after project closure, a Benefits Management Approach is handed over to corporate or programme management for post-project evaluation.
How Does the Lessons and Benefits Review Work?
During the Closing a Project process, the Project Manager coordinates the following activities:
1. Collating Lessons: Gather lessons from all project stages, team members, and stakeholders. Review the Lessons Log maintained throughout the project.
2. Creating the Lessons Report: Document significant lessons in a structured format that can be easily referenced by future projects and the wider organization.
3. Assessing Benefit Achievement: Compare actual outcomes against the expected benefits outlined in the Business Case. Document any variances and their causes.
4. Planning Post-Project Benefits Reviews: For benefits requiring longer timeframes to materialize, ensure the Benefits Management Approach includes clear measurement criteria, responsibilities, and review dates.
5. Handover to Corporate/Programme Management: Transfer responsibility for ongoing benefits realization and ensure lessons are integrated into organizational knowledge repositories.
Exam Tips: Answering Questions on Lessons and Benefits Review
Understand the distinction between lessons and benefits: Exam questions often test whether you can differentiate between capturing organizational learning versus measuring project value delivery.
Know the key products: Be familiar with the Lessons Report, Lessons Log, Business Case, and Benefits Management Approach. Questions frequently reference these products and their purposes.
Focus on timing: Remember that some benefits are measurable at project closure while others require post-project reviews. The exam may present scenarios testing this understanding.
Consider stakeholder responsibilities: The Project Manager prepares the Lessons Report, but corporate or programme management owns post-project benefits reviews. Questions often explore role responsibilities.
Link to Business Case: Benefits assessment relates back to the Business Case. When answering questions, consider how benefit achievement validates or challenges the original business justification.
Apply practical judgment: Scenario-based questions may ask you to recommend actions. Choose answers that demonstrate capturing lessons for organizational benefit and ensuring benefits realization continues appropriately after closure.
Watch for common traps: The exam may include options suggesting lessons should only focus on negative experiences or that all benefits must be realized before closure. These are incorrect interpretations of PRINCE2 guidance.