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For some organizations, Lessons Learned (LL) is an informal process of discussing and recording project experiences during the closure phase. For others, LL is a formal process that occurs at the end of each phase of a project. Regardless of when they are performed, if you are a project team member, chances are you will soon be required to present an evaluation of your project using Lessons Learned. Presenting new information that updates the award-winning first edition, The Basics of Project Evaluation and Lessons Learned, Second Edition supplies practical guidance on conducting project Lessons Learned. The first edition won the Project Management Institute's (PMI (R)) David I. Cleland Project Management Literature Award. Following in the footsteps of its popular predecessor, this second edition provides an easy-to-follow, systematic approach to conducting Lessons Learned on a project. Updated to align with the PMBOK (R) Guide, Fifth Edition Includes three new chapters-PRINCE2 (R), Agile Retrospectives, and Knowledge Transfer- in response to information requests from readers of the first edition from around the world Enhanced with valuable new resources in the Project Evaluation Resource Kit (PERK) found on the downloadable resources, including a fully functional MS Access Lessons Learned Database The research in this book is based on four years of doctoral dissertation research and is supported by renowned experts in the field of evaluation. The concepts covered are applicable to all types of organizations that implement projects and need to conduct Lessons Learned. Providing tools and techniques for active engagement, the text is founded on the principles of conducting project evaluations as recommended by the Project Management Institute (PMI), the world's leading not-for-profit membership association for the project management profession, and PRINCE2 (R) (Project in Controlled Environments version 2), a major governing body of project management. Simplifying and formalizing the methodology of conducting LL in projects, the contents of this book will help organizations, large and small, more effectively implement processes and systems to support effective LL. The text is supported by a Project Evaluation Resource Kit (PERK), which is found in the downloadable resources.