Lessons Learned from IT Projects

At the end of every project, there is a Project Closure Report that needs to be submitted to PGC and that has a section called Lessons Learned.

After every Project, the Team including PM obtains a rich experience into not only a particular technology platform but also the domain expertise and client relationships along with what worked and did not worked in the project.
I guess, what gets documented as lessons learned is the area where something went wrong and its like a hindsight. But there would be lot that never gets shared or used again in the future. Few questions that organisations can consider for themselves are…

1. Whatever lessons are documented are they utilised before the start of the next project?
2. What can organisations do to so that rich experience does not get lost?
3. Is knowledge Management in place? Can it be afforded? What aspects of this knowledge management can be applied directly to the current and future projects without investing arms and legs in any Knowledge Management system?
4. Is there any repository where these lessons learned are combined and available for use in the future?
5. Do team members have any platform to share their experiences with other members of the organisation?
6. How these lessons learned can be spread and made available to all the members of the organisations?

It is of no point to attempt to answer these question, but ongoingly look at if this is in place and fulfiling its objective?