Novus Sententia

SWOT is an acronym of Strengths, Weaknesses, Opportunities and Threats and as these titles suggest it is not purely a method used for controlling areas of planning and risk, but it is also used to highlight areas of the project that could be maximised to the benefit of the whole project or individual areas where some competitive advantage may be gained. It is used to evaluate particular activities of the project in order to optimise their potential as well as to evaluate risks in order to determine the most appropriate way of mitigating those risks.

SWOT analysis is normally performed during the initial project start-up phase so that the elements of the analysis can form the basis of the project plan, but it can also be used later in the project if the project is running into difficulties with scheduling, deliverables or budget and needs to be brought back on track.

For example, if a certain key activity in the project requires new software, a SWOT Analysis can be used to assess the risks and the opportunities of purchasing the software and training staff in its use in order to help with the resource planning.

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