What is a SWOT Analysis

In short a SWOT analysis is a structured planning method. SWOT analysis allows you evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project. If you take the first letter from each word you get the word SWOT.

A SWOT analysis can be carried out for any type of product, place or person. It involves recognizing the internal and external factors that are favorable and unfavorable to achieving that objective.

Setting the objective should be done after the SWOT analysis has been performed.This allows achievable goals or objective to be set for the organization.

• Strengths: What  part of the project will give you an advantage over other
• Weaknesses: Will some parts of the project create a disadvantage
• Opportunities: External elements that could exploit the project to an advantage
• Threats: External elements that could effect the project.

Identification of SWOTs is important because it lets you know what you need to plan before you can achieve the objective of the project.

Before you should decide whether or not the objective is attainable. If you cannot achieve it in this way you must be selective and the process repeated.

Users of SWOT analysis need to ask and answer questions that generate meaningful information for each category to make the analysis useful and find their competitive advantage.

This is pretty much what a SWOT analysis is, it doesn't sound much but it requires you to think and be honest with yourself.

From a SWOT analysis you are able to recognize to see if you can achieve the goal or not.