According to the PMBOK Guide, one of the tools and techniques for the Plan Risk Management process is the review of lessons learned from previous projects. This helps the project manager to identify potential risks, causes, and responses for the current project. By studying and applying the lessons learned from the failed project, the project manager can avoid repeating the same mistakes and improve the project performance. This is also consistent with the principle of continuous improvement and organizational learning. References: PMBOK Guide, 6th edition, page 397-398. PMP Sample Test Questions, question 3. Free PMP Exam Practice Questions, question 3. PMP Questions page 485, question 485.