SWOT Analysis Templates

SWOT Analysis in Project Management – Overview

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Every project is passes through the main 4 phases – Initiation, Planning, Execution and Closure. If project manager initiated effectively with focusing on the major goals and deliverable, project manager would get all the good news without frightening and unexpected outcomes. But, big question is that where to get start to hear all the good news with pride? SWOT analysis is the major stage in the initiation of Project Management. Read on to know more about the responsibility of project managed and typical questions in SWOT analysis.

Every project is different but SWOT analysis in the only thing to deal with the uncertainties.

SWOT is acronym for Strength, Weakness, Opportunities and Threats. SWOT analysis in project management is very simple and straight forward. Common questions are listed out and very relevant answers with required suggestions are collected. After collecting these, analysis takes place to help in reducing the future risk when the unexpected situation arises. SWOT analysis is not a pure way to control the whole project but, also used to spotlight the weak area and strong area which will yield a good return.

SWOT Analysis in Project Management Overview
SWOT Analysis

SWOT analysis is performed during the initial stage of project start-up phase. In the early initial stage project manager can improve the whole project with assigning and allocating the individual tasks with meeting the objectives. SWOT analysis can also be conducted between the middle of the project phase when it runs into the wrong direction with considering the budgets, needs and deliverables.

Presenting the SWOT Analysis

Before conducting the SWOT analysis, it is important to predefine the clear objectives. It is also important to convey all the stakeholders and key members of the project team regarding the agenda of SWOT analysis with vital questionnaire so that the discussions will not go off-topic. (For ready reference -check the following questionnaire).

Project manager can conduct a SWOT analysis during very early stage of project planning and during the middle of the project. During SWOT analysis session, Project manager should listen to everyone despite of their seniority. It is also the Project Manger’s responsibility to present his findings & suggestions for discussions. Project Manager make sure all the things clear-up to everyone in the session. Project manager can take the help of SWOT analysis template to record essential points before and during the discussion.

Ready Reference Questions for SWOT Analysis

Strengths:

  • Does our organization have the required expertise?
  • Is budget allocated to the project and is it sufficient to complete all the tasks?
  • What are the ultimate advantages of completing the project?
  • What kind of technology required implementing the project?
  • How experienced are the team members?

Weakness:

  • Does organization have the resources to arrange contingency funding?
  • What are the downsides of the project?
  • Is the schedule realistic and achievable?
  • If team does not have a required expertise, then what expertise to outsourced?

Opportunities:

  • What are the new trends in technologies?
  • Will project cover the weakness of competitor?
  • Will project useful in wide area of businesses?
  • Will project meet the local and global standards?

Threats:

  • How is the impact of competition in the marketplace?
  • Are team members difficult to replace?
  • Has the new technology been tested?
  • Could external conditions affect the project?

Above list of questions are for ready reference will provide a good start. According to the project type the list of questions can go longer to get important data to analysis which helps you in optimizing the work productivity, planning, decision making and implementing the activities to gain a competitive advantage.

How did you take competitive advantage during the project management and do you have questions other than above list? Share your experience by commenting below. Enjoy your positive deliverable.

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