It is always easy to critique failure after the fact, but it is not always fair. An unfair critique focuses on the failure and criticizes management for the outcome. It focuses on the specific choices made.
A fair critique focuses on the way that choices were made. It offers an approach that could have reasonably been used to arrive at defensible recommendations before the outcomes were known.
While we can never control the outcome, we need to learn from the failures, so we can manage the process correctly the next time around !
Notes from The Wide Lens by Ron Adner