What is a SWOT Analysis
The SWOT Analysis is a method to help define the strengths, weaknesses, opportunities and threats pertaining to a project/service. Once the objectives of the project have been identified, the team can begin identifying the internal and external factors that may help or hinder the achievement of that objective.
- Strengths: Project/Service characteristics that give it an advantage over other projects/services
- Weaknesses: Project/Service disadvantages relative to other projects/services
- Opportunities: Elements that the Project/Service could take advantage of, to create a better solution
- Threats: Environmental elements that the Project/Service needs to manage to ensure it doesn't adversely affect the solution
The SWOT Analysis can help define the Project/Service's Risks and Opportunities. It can also be used to determine what weaknesses need to be overcome for the project/service's objectives to be met.
How to Use this Template
This is a Post-It Note activity, in which the group takes about 5 to 10 minutes of I-time to write down potential strengths, weaknesses, opportunities, and threats. On the whiteboard, you will draw the labeled quadrant, as shown in the template, and the members of the team will place their Post-It Notes into the appropriate square. Once the team has completed placing their Post-It Notes, then the meeting facilitator will read through all the Post-It Notes to consolidate the team's output. The opportunities and threats can then be used to populate the Risks and Opportunities portion of the Project Plan. The weaknesses can also be captured as risks. These may highlight an area where resources are deficient, and may cause the project to fail.