TIMTOWTDI, if you don't mind me plugging one of my own modules, File::Replace:

use warnings;
use strict;
use File::Replace 'replace';

my $lookuptxtfile = "lookup.txt";

my $fh = replace($lookuptxtfile);
while (<$fh>) {
        s/The action failed./failed_build/g;
        print $fh $_;
}
close $fh;
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Or, if a single filehandle is too much magic for your taste:

use warnings;
use strict;
use File::Replace 'replace3';

my $lookuptxtfile = "lookup.txt";

my ($infh,$outfh,$repl) = replace3($lookuptxtfile);
while (<$infh>) {
        s/The action failed./failed_build/g;
        print $outfh $_;
}
$repl->finish;
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Note: This is a re-post of a node that was lost.