2. A review of Strengths, Weaknesses, Opportunities, and
Threats affecting the subject of the analysis. SWOT analysis
is often used to evaluate strategic choices (project objectives,
priorities, etc.) and can also be used to review potential
impacts on things like a process, solution, or business entity.
3. What this is
A SWOT Analysis is a simple tool that can be used to
facilitate and document an evaluation of the Strengths,
Weaknesses, Opportunities, and Threats related to a given
business process, a proposed solution, or even a business
entity such as a department or functional team.
The results of the SWOT analysis are often used to help
group or prioritize projects or requirements, clarify a business
need, define or refine problem statements, or make a
decision.
4. Why it's useful
A SWOT analysis is a useful tool for evaluating the viability of
a given business process, determining the priority of the
various business needs, and guiding development of the right
solution.
You may consider using a SWOT analysis as a way to
identify risks or concerns that aren't openly discussed; the
balance of the analysis positions criticisms in an objective
and non-confrontational way.
5. Why it's useful
SWOT analysis results can also serve as inputs to risk
assessment and management, since weaknesses and
threats are likely obstacles that can hinder success. SWOT
analysis results can also be used to help categorize,
decompose, or allocate requirements to a given business
function, or as an input to decision analysis.
6. How to use it
Start with a clear picture of the object of the analysis,
and the reasons for conducting it.
Make sure you're doing a current analysis, taking into
consideration everything known to be true at that point in time. By
performing an objective, point-in-time analysis based the current
facts—without elaborating or embellishing with what-ifs and
outlying worst/best cases—you'll get a better, more accurate
picture of reality, and can use that to make better informed
decisions.
7. How to use it
Assemble the right set of stakeholders to provide input
to the analysis, so it will be current, relevant, accurate, and
thorough. You'll need participants who understand the entity
itself, as well as those who can look more broadly at how the
entity is positioned in a bigger picture.
8. How to use it
Conduct the analysis. Use the guidelines and template to
facilitate the discussion and capture the results for future
reference. Ask your participants to be candid and speak from
their own experiences and perspectives
9. How to use it
Publish the results and follow up. When the analysis is
complete, review, summarize, and present your findings to
help identify gaps, prioritize work, or manage risks.
