Project Management

I need an explanation for this Business question to help me study.

Problem Set #14

You were the project manager in charge of building a house in Ashburn, Virginia. The house was a five-bedroom home estimated to cost $1.2 million dollars and had to be completed in 24 months. You have successfully built the house within cost and on time. You created a Project Budget, Project Schedule, Project Communication Plan, and Project Monitoring and Control Processes Plan for some unexpected schedule and cost problems.

Now, develop a lessons-learned document for your organization and the project stakeholders. A lessons-learned document describes procurement closure activities including administrative and contract closure activities. This lessons-learned document must include what went well, what went wrong, and suggestions for future house-building projects in Northern Virginia, which looks promising since your team was so successful in this house-building project. Explain why this document is important for your project.