Identifying risks with SWOT Analysis in 3 steps

SWOT Analysis is a wonderful tool for identifying risks in a project and you can to do it in just three steps.

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When is necessary to identify risks in a project, the SWOT Analysis is one of my favourite tools for acknowledging opportunities (positive risks) and threats (negative risks). SWOT uses a 4-box strategy analysis and development framework, and is an acronym for Strengths, Weaknesses, Opportunities and Threats, as shown in the pic below:

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I bring here 3 steps to quickly and easily identify the risks involved in your project/business and to help you in Risk Management:

1. Identify SWOT factors

Perform a Brainstorm and capture:

• Strengths (Internal Focus): business or project characteristics that give advantages over others.
• Weaknesses (Internal Focus): business or project characteristics that give disadvantages relative to others.
• Opportunities (External Focus): elements in the environment that could exploit advantage for the business or project. What…