What is SWOT Analysis? Useful tool for Project Managers

SWOT Analysis is a well-known tool. And rightly so!
It is simple, yet it is also flexible and powerful.
As a project manager, SWOT Analysis is one of those tools that you can use in may circumstances. So it's a great resource to have in your pocket when you need it.
SWOT Stands for…
- Strengths
- Weaknesses
- Opportunities
- Threats
SWOT Analysis will help you identify and understand two things:
1. The present state and
2. Your readiness for the future
In Project Management, you can use SWOT Analysis for:
• Personal development
• Organizational strategy
• Learning Lessons
A particularly good use for SWOT Analysis in Project Management is a team SWOT analysis. It's a great tool to use in a project kick-off meeting because it can help you with:
• Getting to know one another
• Role allocations
• Supporting the development of your team members
• Risk assessment
• Gap analysis (what additional team members may be needed)
SWOT Analysis looks at the present:
Strengths & Weaknesses
The key to this is ruthless honesty and objectivity.
SWOT Analysis looks at the future:
Opportunities & Threats
You may need a tool to help you see into the future
• People often use PESTLE analysis*
• I prefer my own SPECTRES framework, which I explain in the video.
* PESTLE Analysis looks at future trends in the domains of:
- Politics
- Economy
- Society
- Technology
- Legislation
- Environment
You may also like our video on What is Business Acumen? • What is Business Acume...
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[@mubarizmohamed8167]

Once again, you saved my day, Dr Clayton. This is a simplified yet elaborate explanation of SWOT analysis and it's elements that I found surprisingly interesting and comprehensible. Thank you, Dr.

[@Onlinepmcourses]

You're welcome. Glad to have helped.

[@mmalik]

Really helpful explanation, Dr Clayton and the bonus bit on SPEC.... (spoiler alert) at the end too! Thank you.

[@Onlinepmcourses]

That's great - you're welcome.

[@dhanyakumar4358]

Thank you, sir, it's really helpful. I am going through some of your project management videos for preparing my exams.

[@Onlinepmcourses]

You are most welcome - good luck!

[@canbolkan3879]

great

[@Onlinepmcourses]

Thanks.

[@Patrick_Muwonge]

Thanks for the presentation doctor. However, I was of the view that we look at SWOT analysis as a birth of projects rather than SWOT analysis within the project itself. I want to assume projects are produced from SWOT analysis as a result of the project board or organization board carryiout the SWOT and then make a decision on which project to take up...thank you. Patrick M, Uganda, East Africa.

[@Onlinepmcourses]

Patrick, you are right. And so am I. SWOT is a flexible tool. Yes, it has great use as a part of the organizational strategy formulation toolset (although here, I find people over-use it and get bored with it). So, identifying O&T leads us to formulate the projects we need to address them. But, as Project managers, we often are not involved at that stage,. That is why I wanted to introduce SWOT as a tool PMs can use, within their project domain.

[@Patrick_Muwonge]

@@Onlinepmcourses Yeah Sure...! I hear you. Thanx

[@Onlinepmcourses]

@@Patrick_Muwonge You're welcome!