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The team leader was an experienced employee and you charged him to lead the team, at the end it is found a flop. what would you do.
Even though a competent team in place to work on the project, still one should keep an eye on its progress. And s/he should be ready with both corrective and preventive measures to take care of deviation from normal course instead of waiting till it becomes a complete failure.
Lesson learnt of past projects and address the new strategies.
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