A Correlational Study Examining Project Management Leaders’ Implementation of Lessons Learned Practices That Increases Organizational Revenue

Abstract

This study examines how project management lessons learned practices affect organizational revenue, exploring the link between applying past project knowledge and improved financial performance. The research problem centers on the unclear impact of these practices on project success, affecting organizational revenue. The study’s purpose was to establish a correlation between the implementation of lessons learned practices, project success and organizational revenue. The research was guided by organizational behavior and project management theories, which offer insights into human behavior, decision-making, and structured project management approaches. A quantitative correlational research methodology was employed. Data were gathered from project management professionals across various sectors through a structured questionnaire. This questionnaire was designed to assess the extent and impact of lessons learned practices on project success and organizational revenue. Statistical methods were utilized to analyze the data and examine the relationship between these practices and revenue outcomes. The results indicated a positive correlation between the implementation of lessons learned practices and higher organizational revenue. These findings support the proposition that effective lessons learned practices can enhance financial success. The study underscores the importance of integrating lessons learned practices in project management and demonstrates that organizations benefit financially from systematically applying lessons learned practices. These results have significant implications for project management leaders, suggesting that prioritizing lessons learned can lead to improved financial outcomes. Future research should explore the effectiveness of specific project management practices, their integration within different organizational cultures, and their impact across diverse project types and organizational structures.