It is important to know before any project is to be initiated that what are going to be the likely outcomes, the investment to be made and how useful are the finding going to be for the society. This is more relevant when public funding is involved. The SWOT analysis tells us about the feasibility of the study and the issues which are to be addressed through a particular project/ study and whether is it wise and rational decision to take the particular task or not. In short it tells the researcher whether to go ahead with the project or drop the idea, it also gives an idea about the future implications if any, so that adequate safeguards may be built in the project proposal itself to avoid any future complications. But to do a SWOT the researcher has to be adequately informed about the likely outcomes, and other details.
To add to Singh, permit me to take it from the word SWOT it self. There are two dimensions with SWOT analysis.
1. Internalizing the project
a. The internal strength of the project: say whether it is profitable or makes economic sense.
b. The internal weakness of the project: whether there are some lapses in the design or implementation of the project.
2. External issues
a. Opportunities: are there opportunities in outside the project. say opportunities for synergies or lessons etc
b. Threats: what conditions outside the project can cause the collapse of the project.
carefully done the SWOT can enable you to develop good strategies to ensure the success of the project.
Careful planning help improve the chances of project success. When we do SWOT analysis, we identify our internal Strengths and Weaknesses while identifying the external Opportunities and Threats. After SWOT, we are in a better position to mitigate / manage our weaknesses and threats. We can thrive upon our strengths and opportunities. Honest SWOT can enhance our chances of project success.
I see SWOT analysis as part of a broader context. To make a real SWOT analysis, the information of the real situation today should be explored well. To make a rich picture of the situation/project/problem is an initial stage of any action for change. To get a rich picture is the basis for futher analysis. SWOT is one such analysis, but there should be more.. The SWOT shoud identufy some Key Issues, that could be taken further for any Project Applications or Plan of Actions. SWOT alone is of little value, but as part of a tool-box of any actions for change(and project applications) the analysis could be useful.
I would like to contribute to this discussion in determining project scope and objective. In addition to former contributions, SWOT analysis gives you a snapshot for the problem areas as well as opportunities. Thus you may find the answer why you need project at hand. You may find gaps to point out in the project and then you may produce solutions. Hence, SWOT also helps you to develop your roadmap. However, SWOT may have some deficiencies according to your project size and scope. Nevertheless, you need a tool-box to help your decision-making process. To this end, SWOT is a good start, I guess.
SWOT analysis helps you to:
1. anticipate danger so that remedial measures could be taken
2. know your competitive position
3. take a decision as to whether to change a project
4. exploit existing and perceived business opportunities
II agree with Mustafa and Issahaku.
I would also add that the SWOT analysis may help during initiation stage of the project to determine feasibility, establish and justify the project. SWOT analysis can also give invaluable information for use in the identification of risks inherent in the or external to the project. Possibly risk solutions or mediations may also become apparent from the SWOT analysis.
But the technique would best be used in conjunction with other tools.
To add a few cents to the good discussions, key strategis and strategic initiatives could be derived with the SWOT analysis. Especially for a very large-scale R&D program of a country, it would be very helpful for the project manager to establish and flawlessly explain his or her strategies and strategic initiatives of the program.
It is a brainstorming technique and a key component of strategic development. It is the analysis of strengths, weaknesses, opportunities, and threats of an organization or project to identify potential risks in the project and prompt appropriate actions and responses.
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