The report, for the London Assembly, highlights poor communications, inadequate care for survivors in the first few minutes after the attacks - and insufficient preparation.
But it also praises the heroism of the emergency services and the public as they dealt with the first suicide bombings on British soil.
We heard from one man who was caught up in the Edgware Road bombing, Ben Thwaites:
"On the day, of the disaster, it was very chaotic. It looked as though the planning was not as good as it should have been," he told us.
The tube train Ben was travelling in was supposed to have a basic first aid box. But the boxes were locked - and the driver said that in any case, they had nothing in them.
Ben told us how he was sent to ground level to get help - but the paramedics wouldn't come back down to the site of the explosion, until they'd been given clearance by their superiors.
Hundreds of passengers, who could have been crucial witnesses, were allowed to walk away from the scene of the explosion without even giving their names to police. And ambulances were sent to the scene without equipment, because it had already been used en route.
Ben, who's still having counselling after the bombings last July, told us how he's given up his job for a lower-paid one.
But one positive thing has come out of his experience: he's planning a complete change of career and hopes to start work as a primary school teacher this September