SWOT Analysis

Definition of the technique
  • SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving that objective.
  • SWOT Analysis is often visualized using a SWOT Matrix
When do you use the technique?
  • You should perform a SWOT analysis when you are conducting your enterprise analysis. This phase is described in chapter 2 of the Business Analysis Body of Knowledge. A SWOT analysis helps you to assess the capability gaps of the firm/project.
Why do you use the technique?
  • You should perform a SWOT analysis to determine the current state of the organization and the environment. This allows you to more accurately evaluate possible solutions and incorporate external factors when deciding upon a final solution.
  • You can also perform a Personal SWOT Analysis to help you during your job search.
How do you perform the technique?
  1. Gather the team together
  2. Brainstorm on the topic at hand (ensure that you focus on all 4 quadrants)
  3. Document all findings in the SWOT Analysis Matrix
  4. Validate all findings
  5. Brainstorm on solutions that leverage the strengths and opportunities while offsetting weaknesses.

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