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SWOT Analysis Techniques enterprise as a whole to a division, a business unit, a project, or even an individual. By performing SWOT in a disciplined way, stakeholders can have a clearer understanding of the impact of an existing set of conditions on a future set of conditions. A SWOT analysis can be used to: • evaluate an organization's current environment, • share information learned with stakeholders, • identify the best possible options to meet an organization’s needs, • identify potential barriers to success and create action plans to overcome barriers, • adjust and redefine plans throughout a project as new needs arise, Complimentary IIBA® Member Copy. Not for Distribution or Resale. 10.46.3 Elements • identify areas of strength that will assist an organization in implementing new strategies, • develop criteria for evaluating project success based on a given set of requirements, • identify areas of weakness that could undermine project goals, and • develop strategies to address outstanding threats. SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats: • Strengths (S): anything that the assessed group does well. May include experienced personnel, effective processes, IT systems, customer relationships, or any other internal factor that leads to success. • Weaknesses (W): actions or functions that the assessed group does poorly or not at all. • Opportunities (O): external factors of which the assessed group may be able to take advantage. May include new markets, new technology, changes in the competitive marketplace, or other forces. • Threats (T): external factors that can negatively affect the assessed group. They may include factors such as the entrance into the market of a new competitor, economic downturns, or other forces. Beginning a SWOT analysis with opportunities and threats sets the context to identify strengths and weaknesses. 354
Techniques SWOT Analysis Figure 10.46.1: SWOT Matrix Strengths Strength Strength Strength Opportunities Opportunity Opportunity Opportunity SO Strategies How can the group's strength be used to exploit potential opportunities? SO strategies are fairly straightforward to implement. Threats Threat Threat Threat ST Strategies How can the group use its strengths to ward off potential threats? Can the threats be turned into opportunities? Weaknesses Weakness Weakness Weakness 10.46.4 Usage Considerations .1 Strengths • Is a valuable tool to aid in understanding the organization, product, process, or stakeholders. • Enables business analysts to direct the stakeholders’ focus to the factors that are important to the business. .2 Limitations WO Strategies Can the group use an opportunity to eliminate or mitigate a weakness? Does the opportunity warrant the development of new capabilities? WT Strategies Can the group restructure itself to avoid the threat? Should the group consider getting out of this market? WT strategies involve worst-case scenarios. Complimentary IIBA® Member Copy. Not for Distribution or Resale. • The results of a SWOT analysis provide a high-level view; more detailed analysis is often needed. • Unless a clear context is defined for the SWOT analysis the result may be unfocused and contain factors which are not relevant to the current situation. 355
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v3 A GUIDE TO THE BUSINESS ANALYSIS
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International Institute of Business
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Table of Contents Chapter 4: Elicit
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Table of Contents Complimentary IIB
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The major changes in this release i
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What is Business Analysis? Introduc
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Structure of the BABOK ® Guide Int
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The Business Analysis Core Concept
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Key Terms Business Analysis Key Con
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Requirements Classification Schema
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Stakeholders Business Analysis Key
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Requirements and Designs Business A
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Business Analysis Planning and Moni
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Plan Business Analysis Approach Bus
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Plan Stakeholder Engagement Busines
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Plan Business Analysis Governance B
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Plan Business Analysis Governance B
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Plan Business Analysis Information
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Identify Business Analysis Performa
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Elicitation and Collaboration The E
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Prepare for Elicitation Elicitation
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Conduct Elicitation Elicitation and
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Conduct Elicitation Elicitation and
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Confirm Elicitation Results Elicita
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Communicate Business Analysis Infor
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Communicate Business Analysis Infor
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Manage Stakeholder Collaboration El
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Manage Stakeholder Collaboration El
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Requirements Life Cycle Management
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Requirements Life Cycle Management
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Trace Requirements Requirements Lif
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Trace Requirements Requirements Lif
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Maintain Requirements Requirements
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Prioritize Requirements Requirement
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Assess Requirements Changes Require
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Assess Requirements Changes Require
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Approve Requirements Requirements L
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Approve Requirements Requirements L
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Strategy Analysis Figure 6.0.1: Bus
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Strategy Analysis Figure 6.0.1: Str
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Analyze Current State Strategy Anal
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Define Future State Strategy Analys
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Assess Risks Strategy Analysis 6.3
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Assess Risks Strategy Analysis stak
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Define Change Strategy Strategy Ana
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Figure 7.0.1: Business Analysis Val
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Specify and Model Requirements Requ
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Verify Requirements Requirements An
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Validate Requirements Requirements
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Validate Requirements Requirements
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Define Requirements Architecture Re
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Define Requirements Architecture Re
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Define Design Options Requirements
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Analyze Potential Value and Recomme
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Solution Evaluation makes recommend
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Measure Solution Performance Soluti
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Measure Solution Performance Soluti
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Analyze Performance Measures Soluti
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Analyze Performance Measures Soluti
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Assess Solution Limitations Solutio
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Assess Solution Limitations Solutio
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Assess Enterprise Limitations Solut
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Assess Enterprise Limitations Solut
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Recommend Actions to Increase Solut
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Analytical Thinking and Problem Sol
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Behavioural Characteristics Underly
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Business Knowledge Underlying Compe
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Business Knowledge Underlying Compe
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Communication Skills Underlying Com
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Communication Skills Underlying Com
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Interaction Skills Underlying Compe
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Interaction Skills Underlying Compe
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Tools and Technology Underlying Com
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Acceptance and Evaluation Criteria
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Backlog Management Techniques 10.1.
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Backlog Management Techniques as hi
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Balanced Scorecard Techniques Figur
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Benchmarking and Market Analysis Te
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Brainstorming Techniques 10.5.2 Des
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Business Capability Analysis Techni
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Business Capability Analysis Techni
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Business Cases Techniques • When
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Business Model Canvas Techniques th
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Business Model Canvas Techniques Ke
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Business Rules Analysis Techniques
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Business Rules Analysis Techniques
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Collaborative Games Techniques 10.1
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Concept Modelling Techniques 10.11.
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Data Dictionary Techniques Data dic
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Data Flow Diagrams Techniques 10.13
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Data Flow Diagrams Techniques .2 Da
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Data Mining Techniques Data mining
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Data Modelling Techniques 10.14.4 U
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Data Modelling Techniques Attribute
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Data Modelling Techniques Figure 10
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Decision Analysis Techniques Decisi
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Decision Analysis Techniques .4 Tra
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Decision Modelling Techniques All o
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Decision Modelling Techniques Figur
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Document Analysis Techniques • wh
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Estimation Techniques • Bottom-up
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Financial Analysis Techniques When
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Financial Analysis Techniques appro
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Financial Analysis Techniques prese
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Focus Groups Techniques sometimes l
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Focus Groups Techniques should appe
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Functional Decomposition Techniques
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Glossary Techniques • Provides a
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Interface Analysis Techniques Inter
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Interviews Techniques 10.24.4 Usage
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Interviews Techniques Interview que
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Item Tracking Techniques 10.26 Item
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Lessons Learned Techniques 10.27 Le
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Metrics and Key Performance Indicat
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Mind Mapping Techniques connected r
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Non-Functional Requirements Analysi
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The Information Technology Perspect
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The Information Technology Perspect
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The Business Architecture Perspecti
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The Business Process Management Per
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Glossary business analysis: The pra
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Glossary commercial off-the-shelf (
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Glossary event (business analysis):
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life cycle: A series of changes an
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including scope, budget, schedule,
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Glossary development team can use t
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strategy: A description of the chos
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Glossary verified requirement: A re
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Techniques to Task Mapping 10. Tech
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Contributors Complimentary IIBA® M
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Contributors • Barbara A. Carkeno
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Summary of Changes from BABOK ® Gu
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Index Complimentary IIBA® Member C
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Index Focus Groups 279 Forecasting
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Index Predictive Analytics 386 Proc
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Index Trustworthy 298 Trustworthy a
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STRATEGY REQUIREMENTS SOLUTIONS A G
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