💡 The slides for this lecture can be found here.
It is important to understand the current state of the business, so that you can figure out where they want to go from there.
You also need to manage the solution scope and requirements of the project.
- Obtain and maintain consensus among key stakeholders regarding the overall solution scope and the requirements that will be implemented.
- Obtain the needed approvals for your solution.
- Manage issues that emerge during elicitation and analysis.
A Strengths, Weaknesses, Opportunities and Threats Analysis (SWOT Analysis) is a framework for strategic planning, opportunity analysis, competitive analysis, business and product development.
It is a valuable tool to quickly analyze various aspects of the current state of the business process.
- What are the strengths of the business, and how can they be utilized?
- What are the weaknesses of the business, and how can they be eliminated?
- What are the opportunities for the business, and how can they take advantage of them?
- What are the threats to the business, and how can they manage and respond to them?
Examples that could be in a SWOT analysis.
There are both advantages and disadvantages of a SWOT analysis.
- It helps to quickly label characteristics and the current state of the business.
- It might be too high level, a more detailed analysis is almost always needed.