Final answer:
The project team should capture and document lessons learned at the end of each project phase to incorporate real-time insights, thus optimizing the project's progression and aiding future projects.
Step-by-step explanation:
The project team should capture and document lessons learned at various intervals throughout the project lifespan, not solely when significant issues arise or at the project's conclusion. Specifically, it is advisable to do this at the end of each project phase. This approach ensures that valuable insights and understanding can be incorporated in real-time, optimizing the project's progression and providing a wealth of information for future projects.The process typically includes identifying what went well, what didn't, and what could be improved. By documenting this information at the end of each phase, which can include the Preparatory Phase, Implementation and Learning Phase, Program Evaluation Phase, and the Development of Lessons Learned, the project team can apply these insights to enhance efficiency and effectiveness in subsequent phases or in overseeing similar projects in the future.