The effect of simulator-triggered team debriefing on team cognition and teamwork was explored in the context of simulator-based training of project management. Specifically, a simulator-generated feedback based on the dynamic state of the simulated project was displayed to students to trigger team debriefing. The experiment took place as part of a project management course where students practice using the simulator. Project management performance scores were compared to reference group scores, other teams from previous courses simulating the same project without the simulator-triggered debriefing. Questionnaires were used to assess the perception of the feedback mechanism and team cognition. The findings show that frequent usage of the simulator-generated feedback was associated with better project performance. In addition, two constructs of team cognition, team skills and co-regulation, mediated the effect of simulator-generated feedback on the best project management score. Findings suggest that simulator-triggered debriefing can enhance team cognition, and influence team-level and task-level performance in simulator-based training (SBT).