Download this free SWOT Template to help you develop a successful strategy for your project.
SWOT analysis is considered a basic strategic business analysis tool.
Analytical tools such as this are especially useful during the early stages of a project as you develop your project strategy and as part of risk management.
SWOT stands for...
This analysis tool takes into account both internal conditions and external conditions.
The strengths and weaknesses sections refer to internal conditions such as core competencies, staff turnover, and product quality.
The opportunities and threats sections refer to external conditions such as competition, technology, and trends.
Strengths are the characteristics of your organization that will help you achieve your project's objective.
Weaknesses are the characteristics of your organization that will limit your project's ability to achieve its objective.
Opportunities are elements in the external environment that could be taken advantage of to achieve the project's objective.
Threats are elements in the external environment that could negatively impact the project's ability to achieve its objective.
Once you've completed your project's SWOT matrix, you can use the information to develop your project strategy and manage your project risk. To do so, answer the following questions...
Here's a sample SWOT analysis for large-scale transportation projects commissioned by the U.S. Federal Highway Association (FHWA)...
SWOT Analysis Example
If you want to conduct your own SWOT analysis, download this free SWOT Template to use for your project's strategic planning...