SWOT is the abbreviation for Strengths, Weaknesses, Opportunities and Threats. SWOT analysis helps individuals, teams and organizations to analyze their strengths, weaknesses, opportunities and threats before embarking on new projects.
- Why do we think that we can be successful in this project?. What are our strengths?
- Why do we think that we may fail in this project?. What are our weaknesses?
- What are the opportunities knocking at our door, if we pursue with this project?
- What are the threats, if we pursue with this project?
SWOT analysis helps to make well thought out decisions before embarking on new projects.