Project Management : Describe A Swot Analysis Essay
Describe a SWOT analysis is and its purpose or use in project management
SWOT, is an acronym for strengths, weaknesses, opportunities and threats. The term relates to the internal attributes and external factors facing a particular project. Gathering and analyzing this information helps decision makers decide whether a project is worth the effort, and if chosen it provides useful information to help promote a successful outcome.
Strength and weakness are the internal attributes relating to the company and the potential project. Exploring these two is similar to making a pros and con’s list. The strengths would include things like what the company does well, if they have a solid amount of resources available, and how well they are viewed and supported by customers and suppliers. Exploring weaknesses includes listing areas of concern that relate to the company and the project, such as, higher costs, limited resources, or a lack of support.
The external factors take a look at the opportunities and threats related…