SWOT Analysis is a well-known tool. And rightly so! It is simple. Yet it is also flexible and powerful.
As a project manager, SWOT Analysis is one of those tools that you can use in may circumstances. So it’s a great resource to have in your pocket when you need it.
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SWOT Stands for…
- Strengths
- Weaknesses
- Opportunities
- Threats
Using SWOT Analysis
SWOT Analysis will help you identify and understand two things:
- The present state and
- Your readiness for the future
And in Project Management, you can use it for:
- Personal development
- Organizational strategy
- Learning Lessons
A particularly good use for SWOT Analysis in Project Management is a team SWOT. It’s a great tool to use in a project kick-off meeting. Because it can help you with:
- Getting to know one another
- Role allocations
- Supporting the development of your team members
- Risk assessment
- Gap analysis (what additional team members may be needed)
The Time Dimension of SWOT Analysis
SWOT Analysis looks at the present:
Strengths & Weaknesses
The key to this is ruthless honesty and objectivity.
SWOT Analysis looks at the future:
Opportunities & Threats
You may need a tool to help you see into the future
- People often use PESTLE analysis*
- But I prefer my own SPECTRES framework, which I explain in the video.
PESTLE Analysis
* PESTLE Analysis looks at future trends in the domains of:
- Politics
- Economy
- Society
- Technology
- Legislation
- Environment
You may also like our video that answers the question: ‘What is Business Acumen?’
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