Essay Review Questions, Chapter 2

The SWOT analysis is commonly known as a tool for business analysis. Its main use is for looking at strengths and weaknesses to do with the organisation, current or future opportunities and possible internal and external threats. These can then be dealt with to make them into a positive.

According to Nicole Fallon of the Business News Daily, a SWOT analysis is an analytical framework that can help any company face its greatest challenges and find its most promising new markets, by identifying the organization’s strengths, weaknesses, opportunities and threats (2017). It allows for an extensive evaluation of the company’s internal and external resources as well as current and future threats that the company may face. This process can be a great asset in determining and exploring new initiatives, as it helps to identify areas of improvement within the organization while helping with the facilitation and implementation of new business policies. This process is crucial in refreshing the strategies and tactics of any

The concept of project scope may be one of the most ample in project management. It involves objectives, limits and intentions. Every requirement in a project as well as its characteristics must be dealt with when planning the scope. Even though it 's reasonable to say that every project is unique, the causes for which it fails are generally the same. And if you already know what these causes are, you can minimize the likelihood of problems being repeated and thus increase the chance of success.

The project scope statement is a key element in any new project. It is used to outline the results that the project will produce and the terms and conditions under which the work will be performed. Upper management, the requestor of the project and the project team need to all agree on the

All projects are defined by the purpose, objectives and deliverables. Properly defining these, as well as the other aspects of the project management plan will

SWOT Analysis is a simple but useful framework for analyzing your organization's strengths and weaknesses, and the opportunities and threats that the company face. It helps you focus on your strengths, minimize threats, and take the greatest possible advantage of opportunities available to you will giving you the opportunity to ward off possible threats from external sources.

(Project definition: Planned set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations)

A SWOT analysis is an evaluation a company’s strengths, weaknesses, opportunities, and threats (Armstrong, 2010, p.77). A SWOT analysis is a useful tool in comparing a business, or in this case a character’s, traits to the situation and to other characters.

Defining the project scope sets the stage for developing a plan and its primary purpose is to define as clearly as possible the deliverables and to focus project plans (Gray & Larson, 2006). The team has

At first should the terminology be defined. A project is "a unique set of coordinated activities, with a definite start and finishing point, undertaken by an individual or organisation to meet specific objectives within

Project Scope – identifies goals, deliverables, tasks, costs, and deadlines. Project scope is part of project planning.

The SWOT analysis is business analysis method that business can use for each of its department when deciding on the most perfect way to increase their business and future growth. This procedure identifies the internal and external strengths, weaknesses, opportunities and threats that are in the markets.

SWOT analysis is a useful tool for understanding and decision-making for all sorts of situations in business and organization. SWOT analysis can be classified into internal and external factors affecting a company. The Strengths and Weaknesses of the SWOT analysis represent the internal factors that influence the viability of the company. While the Opportunities and Threats, on the other hand, are the external factors that may affect the company's performances. A SWOT analysis provides more understanding of the organization in relation to its internal and external environment so that manager can formulate better strategy in pursuit of its mission.

The clear definition of the project boundaries will prove to be important for all phases of the project management, such as: managing and controlling the

According to What is SWOT Anlysis (2011), SWOT analysis is an analysis used to identify the internal factors (strengths and weaknesses) of the company as well as external factors (opportunities and threats) of the company.