1. A computer implemented method for managing lessons learned in a closed loop process, the computer implemented method comprising: receiving a lesson learned associated with a project through a client application, wherein the lesson learned comprises information describing a task associated with a project; identifying a rating value for the lesson learned received from the client application, wherein the rating value is determined using a predefined level matrix; generating a workflow notification process to address the lesson learned, wherein the workflow notification process is executed by a notification manager; and monitoring the lesson learned for a duration of the project.