SWOT analysis is a tool used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or business venture. It involves analyzing internal factors (strengths and weaknesses) as well as external factors (opportunities and threats) that are important for achieving objectives. Strengths are internal attributes that are helpful, while weaknesses are internal attributes that are harmful to objectives. Opportunities are external conditions that can help achieve objectives, while threats are external conditions that can harm objectives. Conducting a SWOT analysis can help with goal setting, strategic planning, and identifying actions needed to improve performance.