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In this lesson, Subject Matter Expert (SME) Kelly Handerhan discusses leveraging historical information to understand lessons learned and to learn from your mistakes. She explains how documenting and archiving project information for future use is an important tool in your toolkit. You will learn how to debrief your project staff to build a lessons learned file, and you will learn the elements of historical information: - cost estimates - duration estimates - risk identification and management Handerhan discusses how uncertainty is inherent in any project and historical information is particularly helpful in dealing with this uncertainty. She explains the different estimating types and tools Project Managers can use to determine which are the most realistic estimates. You will learn the importance of risk management and risk mitigation (see Lesson 3 for a further discussion of risk management).